African start-up business Sokowatch secures millions in funding

African start-up business Sokowatch secures millions in funding

- Sokowatch, a startup based in Kenya, has raised $14 million (R211 million) in funding to help create a unique platform for merchants

- The platform connects the merchants with suppliers in a bid to digitise orders, payments and logistics

- Plans are in place for Sokowatch to broaden its clients base, from working-capital to data-analytics, and target new African markets

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A Kenya-based B2B e-commerce startup, Sokowatch, is set to revolutionise the African supply-chain industry with a focus on informal retailers.

Sokowatch raised $14 million (R211 million) in funding and has created a platform that connects merchants with local and multinational suppliers.

Briefly.co.za learnt that the suppliers include business giants such as Unilever and Proctor & Gamble, and Sokowatch’s plan is to digitise orders, payments and logistics.

Sokowatch: African startup secures over GHC70 million in funding; set to digitize informal B2B supply-chain markets

Source: techcrunch.com
Source: UGC

READ ALSO: 5 entrepreneurs build software and raise almost GHC800 in funding

Per a report by techcrunch.com, Sokowatch, which was launched in 2016, raised a $2 million (R30 million) seed amount in 2018.

It has since then expanded into other African countries such as Rwanda, Tanzania and Uganda.

CEO Daniel Yu has hinted that Sokowatch intends to soon broaden its client base from working-capital to data-analytics and target new African markets.

The business has also revealed plans of using its infrastructure to enter into business-to-consumer online retail in the near future.

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Source: Briefly.co.za

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