The Kenyan mobile-based startup was launched in 2014. During their first significant round of venture capital financing, they earned a total of $10.3 million USD that will go into increasing the number of vendors the company serves, diversifying its product portfolio, and introducing advanced supplier services.
The round was led by Wamda Capital and included other companies such as Omidyar Network, DOB Equity, Uqalo, and Blue Haven Initiative just to name a few.
Grant Brooke, one of the co-founders of Twiga Foods, says, “Twiga is an outcome of the Nairobi startup ecosystem, the years of investments that have gone into developing talent, supporting hubs, and attracting capital to the market.”
The chairman of Wamda Capital, Fadi Ghandour, explained Twiga represented Wamda capital’s first investment in East Africa. He intends to be more active in East Africa, which is a new geographical area for his company.
Fadi Ghandour will soon be joining the board of directors for Twiga. His expertise and research into the logistics and supply chain space will further boost Twiga’s success. He will also be able to address the lack of delivers of fresh produce in the East African region.
Twiga continues to seek new and powerful partners which will help them expand and grow stronger in business. Peter Njonjo, the other co-founder of Twiga believes that with the help of their new partners along with the support of their current stakeholders, the company will be able to build better marketplaces for Kenya and eventually expand to more urban areas across Africa.
Both consumers and suppliers will be provided with better deals which will go in accordance with the company’s goals.