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Kenyan retail tech platform, MarketForce has secured an additional $100,000 to its pre-Series A round of $2 million, which it had earlier raised in July. This investment has been raised from Harambeans Prosperity Fund, the same investor in the Pre-Series A round of July. The startup’s total funding to date is $2.6 million. The Harambean Prosperity Fund is a rule-based, co-investment vehicle that enables Harambe to invest in high-performing teams and direct global investors to the next generation of high-growth African entrepreneurs.
Tesh Mbaabu, a Harambean and Co-founder of MarketForce said: “We are delighted by this recent investment from the Harambeans Prosperity Fund. It was an honor for me to be inducted into the Alliance’s 2020 cohort, and to become part of this dynamic entrepreneurial ecosystem that is driving transformation on the African continent. We are passionate about delivering digital solutions like RejaReja to solve challenges and empower African businesses to prosper, create livelihoods and more effectively provide goods and services that enhance the lives of their consumers.”

In sub-Saharan Africa, approximately 90% of household retail transactions are in cash, and delivered through a network of about 100 million MSMEs, with 42 million in Nigeria alone. Retail payments on the continent are expected to top $2.1 trillion by 2025, and MarketForce aims to digitize a large portion of these offline transactions. MarketForce bridges the gap in retail distribution by delivering an end-to-end platform that enables consumer brands to deliver essential goods and services to retailers and consumers. Powered by technology and driven by heart, Marketforce’s mission is to drive Africa forward by creating economic empowerment for everyone along the retail supply chain.
Co-founded in 2018 by Tesh Mbaabu and Mesongo Sibuti, MarketForce uniquely combines a field sales automation SaaS solution with its “RejaReja” B2B marketplace to digitize how informal retail merchants buy and sell FMCGs and digital financial services. RejaReja helps these corner shops, commonly referred to as ‘dukas’ in Kenya, get better service, assortment, and access to new revenue opportunities, outfitting them with the technology and support they need to transform themselves from simple FMCG outlets to comprehensive financial service hubs for the continent’s last-mile communities. Currently available in Kenya, RejaReja offers informal retailers next-day delivery for hundreds of SKUs from the leading FMCG brands.
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