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Kenya-Based Powered By People Gets $5 Million Seed To Scale Operations Of Its Wholesale E-Commerce Platform

Kenya-Based Powered By People Gets $5 Million Seed To Scale Operations Of Its Wholesale E-Commerce Platform

03/21/22, 8:00 AM
Money raised
$5 million
Industry
financial services
software
commerce and shopping
Round Type
seed
A wholesale e-commerce platform based in Kenya, Powered by People, has secured $5 million in seed funding to increase its transaction volumes by growing the number of small brands using its B2B online marketplace to reach international buyers.

Company Info

Company
Powered By People
Additional Info
A wholesale e-commerce platform based in Kenya, Powered by People, has secured $5 million in seed funding to increase its transaction volumes by growing the number of small brands using its B2B online marketplace to reach international buyers. We are also investing in building our senior leadership.”The startup works with over 200 brands and over 45,000 artisans from 47 countries, who sell to retailers like West Elm and The Citizenry, across major markets including in North America and Asia. We have also introduced them to wholesale, which we think is the best way to source from any country, and make business sense too,”The startup also extends up to 50% advance financing to traders helping them to quickly process customer orders. The startup has already given out $5.8 million in credit to traders and plans to issue an additional $10 million before the end of the year.