Namibia-based B2B eCommerce startup JABU has raised $3.2 million in a financing round.
The funding included investors Quiet Capital, Afore Capital, FJ Labs, Y Combinator, FJ Labs, Kli Capital, Pareto Capital and several unnamed firms.
JABU, which calls itself a last-mile distribution eCommerce company, joins a handful of startups on the continent that help small retail shops order products and provide data-driven services to manufacturers and suppliers.
The network connects more than 6,000 retailers and digitizes orders, payments and logistics to regional and multinational suppliers such as Coca-Cola, Namibia Breweries Limited, Namib Mills and Bokomo Foods, a South African breakfast cereal company.
Founded less than two years ago, JABU is not only a B2B marketplace but also a last-mile distribution partner, according to the company’s LinkedIn profile.
It offers tech-enabled, route-to-market development and merchandising for fast moving consumer goods which are intended for everyday private consumption. The company said it is reinventing how retailers order, stock, and receive supplies for their shops in Southern Africa.
CEO David Akinin said the Namibian firm has a fleet of vehicles and eight distribution centers. Suppliers use the platform to see where their products are being delivered in real time, check performance data and order merchandise.
Last month, PYMNTS reported the startup scene for the African continent continues to blossom, fueled by burgeoning FinTech and eCommerce sectors and a youthful, tech-savvy population.
The number of African tech startups receiving funding between 2015 and 2020 grew by 46%, nearly six times faster than the global average, according to a study by Boston Consulting Group.
Source: PYMNTS.COM
