Friday
March 18
2022

Kenya’s Sokowatch Secures $125 Million Series B, Rebrands to Wasoko

Tom Jackson

Kenyan startup Sokowatch, an e-commerce company leveraging technology to transform the informal retail supply chain, has closed a US$125 million Series B equity round, while also rebranding to Wasoko and launching operations in West Africa.

Launched in 2016, Sokowatch provides free same-day delivery of essential goods and financing to informal retail stores across Africa. The platform enables retailers to order products at any time via SMS or mobile app and receive delivery through its proprietary logistics network to their store.

Now known as Wasoko, the startup has delivered 2.5 million orders to over 50,000 informal retailers across Kenya, Tanzania, Rwanda, Uganda, Ivory Coast, and Senegal with revenue growth over the past 12 months at over 500 percent. It is now targeting further expansion and growth after banking a US$125 million Series B round.

Photo courtesy of WorldRemit Comms.

Source: Disrupt Africa (link opens in a new window)

Categories
Technology
Tags
banking, e-commerce, investment, mobile applications, supply chain, technology