What is MarketForce?
MarketForce operates as a pivotal sales and distribution platform tailored for African businesses and other emerging markets. The company empowers informal shops by enabling them to source, order, and pay for inventory seamlessly through interactive SMS and a dedicated mobile application. Headquartered in Nairobi, Kenya, MarketForce addresses critical supply chain inefficiencies, providing a vital link between suppliers and small businesses.
How much funding has MarketForce raised?
MarketForce has raised a total of $42.1M across 3 funding rounds:
Unspecified
$2M
Unspecified
$100K
Series A
$40M
Unspecified (2021): $2M with participation from Future Africa, V8 Capital, Y Combinator, Launch Africa, and P1 Ventures
Unspecified (2021): $100K led by Launch Africa, Harambeans, and Future Africa
Series A (2022): $40M supported by VU Venture Partners, V8 Capital Partners, SOSV Select Fund, Vastly Valuable Ventures, and Ten13 VC
Key Investors in MarketForce
VU Venture Partners
VU Venture Partners is a multi-stage global venture capital fund that focuses on investing in Consumer, Enterprise, Fintech, Frontier, Healthcare, and PropTech sectors. They have a track record of early investments in more than 25 unicorns.
V8 Capital Partners
V8 Capital Partners is a leading African venture capital firm that invests in enterprise technology businesses across the continent, aiming to support visionary entrepreneurs and enhance economic growth through technology.
Launch Africa
Launch Africa provides resources and information aimed at supporting entrepreneurs and startups in Africa, focusing on delivering valuable insights and tools to help businesses grow and succeed.
What's next for MarketForce?
The recent Series A financing, alongside previous rounds, positions MarketForce for substantial scaling and expansion. This strategic investment is expected to fuel further development of its technology infrastructure, enhance its reach across more African markets, and potentially broaden its service offerings. The company's focus on leveraging mobile technology for inventory management and payments indicates a strong trajectory towards becoming a dominant player in the region's burgeoning e-commerce and distribution landscape.
See full MarketForce company page
