marketforce
Kenyan B2B e-commerce company MarketForce is winding down its B2B e-commerce business that served informal merchants (mom-and-pop stores) after a turbulent two-year period that saw it scale down operations severely.…
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Last year was a tough period for African growth-stage startups and 2024 presents a mixed bag
Last year presented a tough period for African tech startups. Venture capital was hard to bag (as predicted earlier), bridge and down rounds became the norm, and news of fire sales, layoffs and startup closures reverberated across the continent. With the overall amount of VC funding raised in Africa dipping significantly across the year, according…
MarketForce exits three markets, set to launch a social commerce spinout
Kenyan B2B e-commerce company MarketForce has shut down operations in three of its five markets in Africa and is in the early stages of launching a social commerce spinout. TechCrunch…
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MarketForce tightens its belt as tough times hit B2B commerce
MarketForce, a Kenyan B2B e-commerce platform to help independent corner shops source goods, once had an ambitious plan to grow the number of users on its platform to a million by the end of 2022, with a network effect bringing millions more in the years to come. Tesh Mbaabu, MarketForce’s CEO and co-founder, laid these…
African genomics startup 54gene lays off 95 as COVID testing business struggles
African genomics startup 54gene has laid off 95 employees, or about 30% of its LinkedIn-sourced 290+ employees. A company’s spokesperson confirmed the news after several sources informed TechCrunch of the…
Kenyan B2B e-commerce platform Marketforce cut about 9% of staff in reorganization strategy
Kenyan retail B2B and end-to-end distribution platform Marketforce laid off a chunk of its workforce in July, according to sources familiar with the matter. In an email sent from Marketforce…
Social commerce platform Tushop set for Kenya growth after raising $3 million pre-seed funding
Tushop, a social-commerce platform in Kenya that enables the group buying of fast-moving consumer goods (FMCGs), is set for expansion across Nairobi after raising $3 million in pre-seed funding in…
Antler East Africa closes $13.5M fund to invest in early-stage startups
Antler East Africa, the Nairobi office of VC firm and venture builder Antler, has closed a $13.5 million fund to invest in early-stage tech startups in the region. The oversubscribed…
MarketForce raises $40 million Series A, introduces BNPL merchant stock financing
MarketForce, the retail B2B and end-to-end distribution platform founded in Kenya, has raised $40 million in Series A funding for its merchant inventory financing and expansion across Africa. MarketForce, which…