October 19

Kenyan Furniture Startup, Moko Home + Living Raises $6.5 Million for Expansion

Moko Home + Living, a Kenyan furniture startup, has raised $6.5 million for expansion in the Kenyan market. This Series B debt-equity funding round was co-led by by U.S.-based investment fund Talanton and Swiss investor AlphaMundi Group.

Other participants include Novastar ventures, Blink CV, Kenya’s Victoria Commercial Bank which offered $2 million debt financing.

Apart from funding its expansion in the Kenyan market, Moko intends to use the funds to build more partnerships with retailers and outlets to increase offline sales. It also plans to purchase more equipment.

Photo courtesy of Edward Howell.

Source: Innovation Village (link opens in a new window)

impact investing, partnerships