Funding

B2B E-commerce Startup Jabu gets another $15 million boost

Story Highlights
  • According to the company, drivers who handle distribution for its 232 logistics partners and use the wallet for payments can access asset finance and, for merchants: stock financing.

NAMIBIAN logistics and distribution start-up, Jabu Logistics, has raised another N$235 million (US$15 million), a celebrated win for the company which has grown exponentially in just one year of operations.

The funds were raised from international financier, Tiger Global, and will see to it that the company, which now has operations in Zambia, scales up further.

According to Tech Guru, an online media platform, the round of funding which ended in March, saw Jabu Logistics crowned the recipient of US$15 million, just two odd months after receiving U$3,2 million in funding in a seed round from AforeCapital, Y Combinator, FJ Labs, Quiet Capital, Kli Capital, Pareto Capital and other angel investors.

Jabu’s chief executive David Akinin, who also attended this year’s World Economic Forum, said this funding will see Jabu deepening its presence in southern Africa, and expanding to new markets like Botswana and Eswatini later this year.

Akinin said what differentiates his start-up from others is how it is creating a much broader ecosystem for small businesses, rather than just a marketplace.

“Many businesses like ours are taking money out of the market. We’re trying to build a business that brings products into the market and continues in a journey that has a multiplier effect of moving that money 20 times around that market,” he said.

For many years, merchants who own small to medium-sized kiosks and shops across Africa have dealt with logistics issues when ordering their products from wholesalers and distributors.

Start-ups like Jabu and several others such as Wasoko, TradeDepot, Omnibiz, MarketForce, MaxAB and Chari have made this process easier via apps and more efficient distribution channels.

According to Tech Guru, with Jabu merchants can order stock and pay for their products via Jwallet and expect same-day delivery.

In January, the company had over 6 000 merchants using its platform across Namibia, South Africa and Zambia, and Akinin said that number has increased by 50%.

The company also provides data-driven services, such as sales metrics and agent performances to brands and banks via dashboards.

Source
The Naimibian

Nichole Manhire

Is the media and brand manager at GFA News. She works very closely with editors and podcasters that contribute to telling the African business success story. For marketing and advertising send Nichole an email: nichole@getfundedafrica.com

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button