# Wasoko

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/wasoko

- Industry: Software
- Headquarters: Nairobi, Kenya
- Website: www.wasoko.com
- Total disclosed funding: $129M
- Latest round: Series B (Mar 16, 2022)
- Investors on record: 14

## About

Wasoko is a technology-driven distribution platform that streamlines the supply chain for retailers in Africa, enabling them to access essential products efficiently and affordably through a mobile application.Founded in 2013 and headquartered in Nairobi, Kenya, Wasoko operates as a distribution platform that facilitates the supply of goods to retailers across multiple African nations. The company has engaged in 6 deals, with its most recent deal occurring on December 22, 2023. Wasoko raised USD 113.00 mn in its Series B funding round, bringing the total amount raised to USD 113.00 mn, while currently valuing the company at USD 625.00 mn. The company was co-founded by Daniel Yu and Josh Raine, with Angela Nzioki and Tony Kabeya also in key leadership roles.Wasoko specializes in providing a comprehensive distribution platform that enables retailers across Africa to access essential products and services conveniently and cost-effectively. The core product offerings include a mobile application that allows shop owners to place orders and receive goods on the same day, ensuring that their supply chain runs smoothly and efficiently. The platform serves small to medium-sized retailers, with clientele ranging from local shops to larger enterprises in urban and peri-urban areas. Wasoko's services extend across various African markets, including Kenya, Uganda, Rwanda, and Tanzania. Additionally, by offering a credit facility, Wasoko supports retailers facing cash flow challenges, promoting business growth and sustainability among its clients.Revenue generation at Wasoko is structured around the direct sale of goods to retailers through their mobile platform, which facilitates same-day delivery of products. Transactions typically occur as business-to-business (B2B) interactions, where retailers place orders based on their inventory needs and receive goods directly to their locations. The competitive pricing structure allows retailers to maintain reasonable profit margins while ensuring access to high-quality products. This model includes a credit facility that enables retailers to stock up even in the absence of immediate funds, accommodating their financial situations through flexible payment terms. Timely and reliable delivery is a key component of Wasoko's offerings, enhancing customer satisfaction and loyalty among retailers in the African markets they serve.In December 2023, Wasoko agreed to merge with MaxAB, enhancing its capabilities in the e-commerce space. The recent funding of USD 113.00 mn will be utilized to develop Wasoko's e-commerce initiatives and strengthen its infrastructure. The company is focusing on expanding its operations into new African markets, further establishing its presence in the region to improve access to essential goods for retailers. Specific timelines for these expansion efforts have not yet been disclosed.

## Funding rounds

- Series B, Mar 16, 2022, $113M — VNV Global, Tiger Global Management, Quona Capital, Avenir Growth Capital, 4DX Ventures, Golden Palm Investments Corporation, Jam Fund
- Series A, Feb 23, 2020, $14M — Breyer Capital, Vertex Ventures, Quona Capital, Amplo, 4DX Ventures, Timon Capital
- Seed, Jul 26, 2018, $2M — Lynett Capital, Outlierz, Village Global, 4DX Ventures, Golden Palm Investments Corporation

## Investors

- Lynett Capital (https://capitalatlas.ai/funds/lynett-capital) — Seed
- Outlierz (https://capitalatlas.ai/funds/outlierz) — Seed
- Village Global (https://capitalatlas.ai/funds/village-global) — Seed
- 4DX Ventures (https://capitalatlas.ai/funds/4dx-ventures) — Seed, Series A, Series B
- Golden Palm Investments Corporation (https://capitalatlas.ai/funds/golden-palm-investments-corporation) — Seed, Series B
- Breyer Capital (https://capitalatlas.ai/funds/breyer-capital) — Series A
- Vertex Ventures (https://capitalatlas.ai/funds/vertex-ventures) — Series A
- Quona Capital (https://capitalatlas.ai/funds/quona-capital) — Series A, Series B
- Amplo (https://capitalatlas.ai/funds/amplo) — Series A
- Timon Capital (https://capitalatlas.ai/funds/timon-capital) — Series A
- VNV Global (https://capitalatlas.ai/funds/vnv-global) — Series B
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series B
- Avenir Growth Capital (https://capitalatlas.ai/funds/avenir-growth-capital) — Series B
- Jam Fund (https://capitalatlas.ai/funds/jam-fund) — Series B