Kenya: 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 was launched in Uganda, Tanzania and Rwanda last year after growing beyond Kenya and Nigeria, plans to introduce buy-now-pay-later (BNPL) options to help merchants access fast-moving-consumer-goods (FMCGs) on credit. It also plans to enter additional markets in East and West Africa.