More venture capital keeps trooping into Africa’s B2B e-commerce retail, a space where startups are digitizing informal trade to get thousands of merchants to operate more efficiently.
This time, it’s a startup that was in the news this January: Namibia-based JABU, whose $3.2 million seed round we covered. Now, the last-mile distribution e-commerce company has received more investment: a $15 million Series A led by Tiger Global.
The round, which closed sometime in March, is Tiger Global’s second investment in the B2B e-commerce space after backing Wasoko in its mega Series B round. It’s also worth noting that this deal closed before Tiger Global’s reported $17 billion loss during this year’s tech sell-off.
Other investors in this growth round include Box Group, Knollwood and D Global Ventures. Some backers from its seed round: Afore Capital, Oldslip and FJ Labs also doubled down.
For many years, merchants who own small to medium-sized kiosks and …
