MarketForce (MarketForce360.com), a Nairobi-headquartered B2B platform for retail distribution of consumer goods and digital financial services in Africa, has closed a USD40 million Series A round led by V8 Capital Partners.
The raise, the largest Series A round of its kind in East and Central Africa, comes seven months after the closing of a pre-Series A round.
Ten13 VC, SOSV Select Fund, Vu Ventures, Vastly Valuable Ventures and Uncovered Fund, along a number of existing investors; Reflect Ventures, Greenhouse Capital, Century Oak Capital and Remapped Ventures also participated in the round, as did Ken Njoroge, Cofounder and former CEO of Cellulant, who joins the board as Chairman.
The oversubscribed round was made up of equity and debt.
