Sokowatch, a Kenyan B2B startup involved in e-commerce supply chains for retailers in East Africa’s informal markets, has conceded to its closing a funding round. Sokowatch closes $14 Million Funding with which it hopes to expand. The startup exists to make work (sales) easier for popular Fast Moving Consumer Goods (FMCG)
As a startup, Sokowatch is in collaboration with popular Fast Moving Consumer Goods suppliers; Unilever and Procter & Gamble. Customers place orders for goods from Sokowatch’s online platform via SMS, phone or its mobile app and have the goods delivered to the them using Sokowatch’s three-wheeled tuktuks.
Asides being an e-commerce oriented start-up, Sokowatch also is creating a setting that makes available a credit facility enterprise for its customers which they can connect to through Sokowatch’s mobile platform to help expand their businesses.
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Quona Capital, a VC firm that specializes in fintech firms in emerging markets, is a principal leader of the funding round alongside other fintech firms.
Asides Kenya, Sokowatch delivers orders to a lot of other retailers in neighboring African countries including Tanzania and estimates that is has 10million retailers. Sokowatch closes $14 Million Funding to further fulfill its promised objectives.
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