Tag: B2B

Former Interswitch and Microsoft employees launch B2B sales assistant for Africa

Revwit, a new AI-powered sales assistant created by three former operators from Interswitch, Microsoft, and the London Stock Exchange Group, was unveiled on Monday.

Revwit was founded by Chinedu Ossai, Damilola Aluede, and Dayo Adekanmbi with the goal of increasing customer engagement and sales efficiency in the African market. This solution was created especially to assist B2B sales teams there.

“We didn’t build Revwit just because it’s a business opportunity. We built it because we’ve led teams, chased deals, and wished there was something simpler,” said Damilola Aluede, Revwit Co-founder and Chief Revenue Officer. “We want to give sales teams a tool that just works – so they can focus on selling, not struggling with software.”

AI sales assistants tailored for African markets

Revwit improves and automates sales processes by utilising artificial intelligence. It assists sales teams by handling leads, setting up follow-ups, and offering data-driven insights to speed up deal closing.

The assistant was developed with Africa’s distinct business environment in mind, the designer’s stress, tackling issues including local market dynamics, varied internet connectivity, and various languages.

This advancement corresponds with a more extensive trend of AI adoption in Africa, where technology is being utilised to address local issues. As an illustration, AI is being implemented in agriculture to enhance crop production and in healthcare to enhance diagnostic capabilities.

Nevertheless, experts such as Abejide Ade-Ibijola, an AI professor at Johannesburg Business School, warn that the advantages of AI may be unequally distributed, with urban centers with superior infrastructure likely to benefit more than rural areas.

The role of AI in African business growth

African B2B companies rapidly integrate AI tools to improve their marketing, consumer engagement, and sales. HubSpot and Drift, platforms propelled by AI, are currently assisting businesses in automating content creation, personalising customer interactions, and optimising advertising campaigns.

These tools enhance decision-making and streamline sales workflows, generating high-quality leads and increasing revenue.

With Revwit, this ecosystem gains a sales helper for African enterprises. AI assistants like Revwit help sales teams grow relationships and close deals by automating everyday tasks and providing predictive analytics.

This innovation shows rising trust in AI’s ability to alter African industries and emphasises the need for localised technologies. Tools like Revwit show how former tech experts are helping Africa’s digital revolution by solving business problems using AI.

April 15, 2025
MarketForce shuts down operations in three countries

MarketForce, a Kenyan B2B e-commerce company, has shut down operations in three of its five African markets and is just starting to build a social commerce business.

MarketForce’s “super-app” called “RejaReja,” which lets small stores (mom-and-pop shops) order fast-moving consumer goods (FMCGs) directly from manufacturers and distributors and get loans, will only be available in Uganda after the company stopped offering it in Kenya, Nigeria, Rwanda, and Tanzania, according to reports.

Nairobi will still be the company’s home base and the launchpad for Chpter, a social commerce spinoff that MarketForce has been working on to help merchants “turn conversations on their social media channels into more sales,” Tesh Mbaabu, who will be co-founder and CEO of both MarketForce and Chpter, told reporters when he confirmed the changes.

Read also: Twiga fires 283 employees due to tough business environment

Late last year, some venture capitalists broke their promises to give MarketForce Series A funding, which forced the company to cut back on operations and lay off workers in multiple rounds. This cash shortage happened during a global downturn in venture capital, which has made it hard to raise money.

Companies like MarketForce have had to give up on growth at all costs because of a lack of cash and the current market. Instead, they seek ways to make money, push for bridge rounds, or raise money at lower prices. MarketForce just got $1 million through crowdfunding.

In an earlier chat with Repo, Mbaabu said his company is restructuring to develop a viable business by delivering in high-demand locations and closing unprofitable routes. As liabilities mounted and their asset-heavy approach was capital intensive, the company had no choice but to close in the three markets.

Uganda has been our finest market since we started moving toward profitability. Mbaabu stated he would keep it alive since we have exclusive distribution relationships with four big manufacturers and superior margins, allowing us to run a gross profitable company there.

According to an investor update and reports, Uganda country manager Dennis Nyunyuzi has been appointed managing director and will oversee RejaReja’s operations.

What’s next for MarketForce

MarketForce released RejaReja, a SaaS retail marketplace for formal markets, in 2020. Informal traders and mom-and-pop shops can order goods directly from manufacturers and distributors for next-day delivery. It also provides financing based on transaction history. The company addressed stockouts, earnings instability, and lack of capital to develop this retail sector.

MarketForce planned to tap the informal retail sector, which accounts for about 80% of household trade in sub-Saharan Africa, but Mbaabu says margins are low in expensive markets like Kenya and Nigeria, where competition is intense.

“We are finding more profitable and high-margin segments, so we decided to enter social commerce,” said Mbaabu.

E-commerce startup Sabi tops $300M valuation in new funding

The Bottom Line

MarketForce’s strategy shift emphasizes realistic market responses and sustainable development and profitability. Exiting markets to focus on high-margin areas and social commerce shows their versatility and commitment to succeed in changing business environments. This change coincides with industry trends where corporations are reconsidering growth-at-all-costs tactics for sustainability.

November 4, 2023
KASO secures $10.5 Million, launches FB Fintech Vertical

KASO, the top B2B platform digitizing and automating procurement between restaurants and food suppliers in the Middle East, has announced that it has received $10.5 million in seed funding to help it with its goal of disrupting the food supply chain.

KASO’s commitment to sustainability in the food and beverage business fits perfectly with the UAE’s focus for 2023, which is the Year of Sustainability.

Investors include BY VP, Hala Ventures, Seedra Ventures, Pioneer Fund, Spade Ventures, Derayah, Vulpes Ventures, Cyfr, regional family offices, and other strategic investors from KSA. Previous investors, such as GFC and MSA, have also given money.

The Middle East-based company, which started in 2021, has grown five times in the past year and now has more than 5,000 partners in the KSA and UAE.

Read also: Farmchain finance brings blockchain technology to average persons

More about KASO engagements

In addition to its platform, KASO has successfully launched a fintech vertical offering payments and extended credit terms to restaurants while ensuring suppliers are paid seamlessly and on time.

This service provides financial flexibility and transparency for both parties and further highlights KASO’s commitment to leveraging technology to create effective solutions in the food supply chain.

“We are very proud to be working with well-known names like Burger King, Buffalo Wild Wings, Tim Hortons, Caribou Coffee, Chilli’s, and many more.

Also, it is very encouraging to see strong regional and foreign investors join us, especially since some startups are having trouble getting funding right now.

This backs up our plan to change one of the world’s oldest businesses, which is still based on pen and paper, phone calls, and WhatsApp. As part of our plan to fix these problems, we are excited to announce the start of our fintech vertical.

This will allow restaurants to accept payments and get credit, which will help solve some of the biggest problems in the industry. Manar Alkassar, co-founder of KASO, said, “By combining our procurement platform with new financial solutions, we help restaurants thrive in a competitive market.”

KASO also keeps working to solve the big problem of food waste in the MENA area, which is about 250 kg per person per year. One of the main reasons for KASO’s success has been its goal to cut down on food waste in the area, which continues to attract top investors.

The innovative way that the company’s app connects restaurants and providers has already made a big difference in the industry.

Ahmed Soliman, Co-founder of KASO, added, “The F&B industry in the MENA region was valued at $135 billion in 2020 and is expected to grow to $171 billion by 2024.

Our platform has already made a significant impact in reducing inefficiencies in the industry, and we are confident that we can continue to make strides towards a more sustainable future”.

ClozetSales’ Chikere Onyinyechi promotes thrift shopping with tech

KASO hopes to use the money to grow its business, improve its technology platform, and reach a GMV of $1 billion in a year.

“We think that KASO is just what the food business in KSA and the Middle East needs to shake things up. Ali Abussaud, the founder and chairman of Hala Ventures, said, “Their commitment to reducing waste and promoting sustainability is in line with our own, and we are excited to be a part of their journey.” ‍

At SEEDRA Ventures, we think that KASO is leading a much-needed change in the fast-growing F&B industry in the region by making buying processes more efficient and promoting sustainability through cutting-edge technology. Haitham Al-Foraih, Co-Founder and Managing Partner of SEEDRA Ventures, said, “We are excited to be a part of their journey and look forward to helping them continue to grow and have an impact in the Kingdom and the wider region.”

As KASO grows, it keeps getting the attention of the best companies in the Middle East and other parts of the world. In the past few months, the company has announced strategic partnerships with businesses like Foodics, and more are likely to be announced soon.

July 19, 2023
BoxCommerce transforms East Africa’s E-Commerce

In a world that is rapidly going digital, e-commerce has emerged as a major player in Africa’s economic growth and convenience.

East Africa, with its new markets and strong entrepreneurial spirit, has seen the rise of BoxCommerce as a top B2B e-commerce startup.

It is becoming a game-changer and the leading B2B e-commerce platform, which is changing the e-commerce industry in the area.

Well-known e-commerce platforms like Shopify can’t keep up with BoxCommerce. Wasoko (formerly Sokowatch), Twiga, and Shop Topup are among the best e-commerce sites in the area.

This achievement is a turning point in the region’s e-commerce industry and shows the power of solutions that are made specifically for developing markets.

Given the recent success the area has had in attracting companies and solutions, this is very important. Kenya had the best digital ecosystem in the area.

In 2023, it was expected to be the 56th largest e-commerce market, with sales of $3,237.6 million. Statista’s partner, EcommerceDB, puts it ahead of Jordan.

BoxCommerce’s success in e-commerce, where creativity is key, is due to how it designs solutions for its markets in a way that is different from other companies. Craig McLeod, the company’s founder and CEO, knew that the needs and quirks of the Kenyan market had to be met.

Payment methods that work with mobile money and delivery choices that make sense for Kenyan retailers and customers have met their needs.

Also, the e-commerce platform’s ability to work well on even the most basic smartphones and its integration of social commerce has made it the market leader. BoxCommerce has created an ecosystem that makes it easier for Kenyan businesses to connect with their customers by using Meta’s acceleration.

Read also: E-commerce startup Sabi tops $300M valuation in new funding

The Effects on East Africa’s eCommerce Industry

BoxCommerce’s rise to the top of the e-commerce market in East Africa has big effects on the whole market. First of all, it shows how much power local startups have to take on known global players. The new company has gotten a big foothold in emerging markets by figuring out what retailers are having trouble with and fixing it. It has also shown other people how to start their own businesses.

Also, BoxCommerce’s success shows that B2B eCommerce is becoming more important in this area. BoxCommerce has joined the profitable B2B market by making it easy for wholesalers and stores to do business together.

As most of the region’s e-commerce income comes from the fashion and electronics and media markets. This change gives a lot of East African companies new ways to grow their businesses and make money.

Also, BoxCommerce has changed the way businesses work in Kenya by letting sellers set up their online stores in less than 10 minutes, including payments and shipping. In the past, it was hard and took a lot of time to set up an online profile.

But with BoxCommerce’s easy-to-use platform, merchants can focus on what they do best: giving their users good products and services.

When compared to its main rival, Shopify, BoxCommerce’s accomplishments become even more important. With 16 times more merchants than Shopify, BoxCommerce has become a force to be reckoned with in Kenya. Due to its fast growth, the e-commerce site will soon be bigger than Shopify not only in Kenya but also in Africa and Southeast Asia. This kind of growth could make cross-border trade, economic growth, and digital participation in these areas stronger.

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Regional growth of BoxCommerce

BoxCommerce’s success is global. The company has partnered with MTN, Standard Bank, Microsoft, and Meta to expand in Indonesia, Nigeria, Ghana, and South Africa. These agreements indicate that everyone wants technology to empower businesses and improve local economies.

The BoxCommerce and M-Pesa e-commerce aggregators have great potential. This aggregator wants to improve deals and online business trust by offering merchants and customers a better marketplace. BoxCommerce’s role in the area’s digital development is growing.

Finally, BoxCommerce’s success in East Africa’s B2B e-commerce startup sector is a result of localized innovation, market-specific solutions, and an understanding of rising countries’ needs. BoxCommerce has proven that disruptive entrepreneurs may revolutionize industries by giving merchants an easy-to-use tool to build up their online presence rapidly.

eCommerce in East Africa is bright as BoxCommerce grows and gains attention. Its success allows other entrepreneurs to solve emerging market concerns. It’s transforming how businesses work, helping the region’s economy expand, and empowering entrepreneurs.

BoxCommerce highlights how crucial it is to be creative, agile, and committed to addressing company and consumer objectives in the digital age. As we see this fantastic firm expand, we think about how it may aid people financially and boost East Africa’s e-commerce.

June 21, 2023
Zumi shuts down Again, laying off 150 workers

The Kenyan business-to-business (B2B) e-commerce startup Zumi has shut down because it was unable to get sufficient funds to continue business as usual.

Zumi, which debuted in 2016, was initially a digital magazine geared towards women; however, in 2020, the publication will be discontinued, and the company will transition into an online shopping platform. The end-to-end marketplace served to link merchants and suppliers while also acting as a facilitator for the entirety of a transaction that involved both parties, including payments and logistics.

According to William McCarren, co-founder and CEO of the company, the firm was able to accomplish revenues of more than US$20 million, recruit 5,000 customers, and build a workforce of 150 people; however, the company is now poised to shut down since it was unable to get finance.

McCarren said, “The current macro environment has made fundraising extremely difficult, and unfortunately, our business was not able to achieve sustainability in time to survive.”

Read also: GitHub to implement remote work policy, 10% layoffs

Previous Update on Zumi

The startup launched in 2016 as a digital magazine geared towards women, but it went out of business not long after it announced its intention to shift its focus to online shopping. It was stated that the United Arab Emirates-based Majlis investment and a few other investors had provided the digital media startup with approximately $250,000 in finance. Yet they were having trouble due to low revenue from digital advertisements, a challenge that is prevalent among organisations that deal with digital media. Due to a lack of available funds, it had to be closed.

It wasn’t for very long that Zumi’s retail location was out of commission since by the year 2020, the company had reinvented itself as a business-to-business (B2B) e-commerce platform that supports the growth of both retailers and suppliers, particularly in the garment industry. Zumi took care of everything; it was responsible for facilitating the online sale or purchase of the product, as well as the delivery and payment. Customers were able to place orders with retailers or suppliers through the Zumi app or with the assistance of a Zumi agent. They made sure that the goods were delivered to the customer by forming partnerships with companies that provided logistics services. The buyer subsequently made the payment upon receiving the goods.

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Zumi Through the years

During the course of several years, Zumi developed popularity and was able to secure more money from Masha Ventures and other investors including Zephyr Management. Since its establishment in 2016, Crunchbase reports that Zumi has accumulated approximately $970,000 in publicly known funding. Achieving revenues of over $20 million and gathering 5,000 customers were Zumi’s crowning achievements before the company was shut down.

In a post that he made on LinkedIn, McCarren extended his thanks to his four co-founders, Mohamed Nuur, Sabrina Dorman, Tomas Rosales, and Eric Njogu, for their participation and support throughout what he refers to as a “crazy trip.”

The closure of this company adds to the growing number of Kenyan start-ups that have been attributed to widespread economic issues. This past year saw the demise of three Kenyan start-up companies: Kune Foods, Alert Logistics, and WeFarm.

March 24, 2023
Trella Secures Substantial Debt Facility to Expand Operations

Introduction

Trella, a transportation marketplace and B2B technology platform, links shippers and carriers in real time. The startup completed a US$42 million Series A funding round, consisting of US$30 million in equity and US$12 million in debt facilities. It has since followed up with additional, undisclosed debt capital from Contact Financial Holding Egypt.

The top non-banking financial services provider in Egypt, Contact Financial Holding, has agreed to provide Trella with a sizeable financing facility so it can develop its business in a number of ways.

Trella, a transportation marketplace and B2B technology platform, links shippers and carriers in real time. The firm operates across the Middle East and Pakistan and has over 350 shipper partners, including household names like Coca-Cola, Maersk, Mondi, Henkel, Amazon, and DHL. Additionally, it works with over 30,000 carriers.

The startup completed a US$42 million Series A funding round, consisting of US$30 million in equity and US$12 million in debt facilities, to help it expand, as reported by Disrupt Africa in June 2021. It has since followed up with additional, undisclosed debt capital from Contact. Through Contact’s four subsidiaries—Contact Factoring, Contact Leasing, Contact Credit, and Contact Creditech—the two businesses are collaborating. In order to support Trella’s continued rollout in Egypt and regional expansion, each agreement offers a customized solution to finance Trella’s working capital needs, its carrier base, truck spare parts, and maintenance services.

Trella Egypt’s working capital requirements were funded through a financing deal negotiated with Contact Factoring. Through Contact Financial Holding’s other two subsidiaries, Contact Credit and Contact Leasing, which will finance Trella’s carrier base to buy trucks for either individual carriers or MSMEs owning a number of trucks and wanting to increase their fleet, this strategic partnership also benefits Trella.

Read also: IQ Logistica Offers Mobile App to Assist Farmers

Additionally, as part of Contact Financial Holding’s partnership with Trella to support and guarantee the continuity of their truck drivers, Contact Creditech, a consumer finance company, will fund Trella carriers’ purchases on Trella Store, an online store created by the business to offer trucking products like tires, brakes, engine lubricants, maintenance services, and other essentials.

“We are fortunate to have Contact as one of our partners to provide different financing solutions to our customers. The supply chain has been witnessing a lot of innovation lately, but not as much was felt on scaling financing options to the stakeholders involved. Through our partnership with Contact, we are going to avail ancillary financing solutions to our carriers, in addition to sourcing working capital facilities to our trucking business, getting us one step closer towards achieving our vision to empower our communities,” said Omar Hagrass, CEO of Trella.

Zater, CEO of Contact Financial Holding, said Contact had always been keen on exploring and supporting new startup businesses.

“We are very proud to partner with Trella and provide them with the financial solutions needed to expand their business. Contact integrates the tech-based system and the company’s dynamic efforts toward enabling emerging digital platforms to support financial inclusion initiatives spearheading the lending-as-a-service in Egypt,” he said.

How will Trella utilize this funding?

Trella will utilize the money to continue to be the market leader in MENAP, where the road freight market is worth US$50 billion and to expand its technological capabilities and product development in order to spur growth.

“This US$42 million funding round is a huge endorsement of Trella’s capabilities, business model and market opportunity. We have a strong diversity of investors and we thank all participants for their support,” said Omar Hagrass, chief executive officer (CEO) of Trella.

Read also: Sendy, Meta and Innovation Growth Hub offers free training programs to SMEs

“It is great to have Maersk, as a shipper customer that uses Trella, invested in our future growth. The MENAP freight market is a significant one and urgently needs the transparency, reliability and efficiency that Trella and its technology platform provide. We are trusted and used by some of the world’s most recognisable brands, and we look forward to working with our partners to scale across MENAP. ”

Raed VC’s founding partner, Omar Almajdouie, said his firm had an “unwavering belief” in the Trella founders, which coupled with the booming freight sector, made the opportunity to lead the round “very exciting.”

Trella’s product innovation has enabled them to grow significantly in the past year despite the tough operating environment. This is a testament to their resilient business model and strong team. “We are excited to support the team on their growth journey,” he said.

Jeppe Hoier, a partner at Maersk Growth, said that trucking had changed quickly because new digital tools have made it possible for even the smallest companies to ship goods.

Trella’s platform is an excellent example of this democratisation of the logistics sector. Trella is at the same time our first investment on the African continent, founded by a team with significant experience from the startup scene, “he said.

Conclusion

The funding opportunity provided by Contact Financial Holding is a huge one for Trella. Would Trella utilize this opportunity this time to good use?

The past records of how they used is apast fundings good sign that they would utilize this one well. Well, only time would be the answer.

October 4, 2022
Cartona Secures $12 Million in Funding

Egypt-based B2B e-commerce platform Cartona has gotten $12 million in a Series A funding round led by Silicon Baida, with the participation of investors such as SANAD Fund for MSME, Arab Bank Accelerator, and Sunny Side Ventures.
Cartona, founded in 2019 focuses on digitizing the traditional trade market in Egypt, including the mom-and-pop stores, wholesalers, FMCG producers, and distributors. The startup aims at creating a cashless society vision, investing in embedded finance, payments, and operational integration with all stakeholders, which ensures that the retailers and suppliers are provided with an integrated solution boosting financial inclusion and enabling them to operate their business more efficiently and reach end-consumers with their needed products at affordable prices.
Their model is projected as an asset-light, not fully owning a single product, warehouse, or vehicle. It allows the startup to execute its goal of digitizing the Egyptian majorly offline trade supply chain while providing seamless financial services solutions to hundreds of thousands of its customers.
The company has stated that the funds acquired from this Series A funding round will be used to expand its operations across Egypt, cover all governorates, get more resources, and explore new spaces aside from FMCG.
The CEO and co-founder of Cartona, Mahmoud Talaat, said while commenting on the funding:
“We are delighted to complete our Series A fundraise. The market context for Cartona is highly attractive, and we are just getting started. Egypt has a lot of mom-and-pop stores that are core to our business model. We will continue empowering them via efficient and seamless solutions in their trade and financial cycle with FMCG companies and wholesalers, aligning with our mission to help people manage and control their businesses”.
The Competition for Cartona is very slim, making their market infiltration easier. The overall retail market size is $120 billion, and only Food and Beverages contribute $70 billion. In Egypt, there are over 400k shops and thousands of both international and local brands, with the sector growing by 8 percent per annum.

Also, in a statement, the Founding managing partner at Silicon Baida, Namek T.Zu’bi, said:
“We are thrilled to partner with the Cartona team to help them continue to disrupt the $120 billion Egyptian retail market through its B2B technology platform embedded financial services offerings. The market is hungry for these types of solutions, and we believe Cartona’s asset-light approach will enable them to serve as many marketplace participants as possible in a highly efficient manner”.
Finally, the SANAD Board Chairperson, Dr Daniela Beckmann, concluded:
“We are incredibly proud of this transaction as it is the first investment of SANAD ESF II in Egypt, continuing the success of ESF I investments made in the country. By providing both financing and software tailored to the market. Cartona’s digital platform supports more innovative MSME retailers across Egypt, which will greatly contribute to SANAD’s mission of pursuing growth and employment creation across the region”.

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E-commerce market in Egypt

E-commerce business is a great investment for any business owner as statistics show that worldwide retail sales have grown to $4.8 trillion as of 2021 and serve over 2.14 billion people, So if you are thinking of starting an e-commerce business, now is the right time to dive into this sector due to its rapid growth and the rapid digitization of the economy. Here are some of the benefits/advantages of E-commerce:

Low financial cost

Physical retail stores are very expensive to set up as owners have to pay up to thousands of dollars to get land and build up a structure, place signs in the store, design it, and buy equipment needed for the upkeep and growth of the store which may be an uphill task for several people who are short when it comes to capital. And let’s not forget, every store needs employees that you will be paying monthly, delivery personnel, and security personnel depending on the products you sell.
However, E-commerce stores don’t require most of these procedures as done online. You may alone need a website and a website designer, services of delivery companies will also be needed, but they won’t charge much, and you have the opportunity to operate your store from the comfort of your home; after calculating all your requirements, setting up an e-commerce store may not cost you up to $4000.

Read: Sylndr Secures $12.6M Pre-seed to Disrupt Egypt’s Automotive Used-Car Market

24/7 Potential income:

Almost all physical stores operate from 9 am to 9 pm but since an e-commerce store is operated online, your store could be open all day from the comfort of your home, giving you a competitive edge over others. Being available always could make you get clients whose country time zone differs from yours and make a sale making you more income.
You may wonder, will I need to be awake all day while running an e-commerce store? The answer is No as you can get your beauty sleep while your automated ordering systems complete orders by sending those customers confirmation emails which will put their minds at rest and when you wake up, you can deliver those goods to the people who purchased them.

Read: Egypt’s Mylerz Raises $9.6M For Africa-Wide Growth

Grow worldwide faster

The internet has made the world a global village, meaning that you may be here in Nigeria, and some from the United States may see your products online and purchase them. Companies like Alibaba and Shopify offer services to customers anywhere in the world, giving them a competitive edge and making them an international brand, hence building their reputation.
Selling worldwide can help build your reputation faster and expand your marketplace exponentially, and it won’t be long before you start making immense profits before your local competitors.

E-commerce is becoming the next big thing in the trading space and has started to take over the internet as we have a lot of e-commerce stores. But, in some countries with less exposure such as Egypt, companies like Cartona are already following this trend and introducing e-commerce to the populace. You also can own an online store and be a successful trader making huge profits ahead of your competitors.

August 5, 2022