African B2B Marketplace Kwely Secures $700,000 Seed Round Of Funding

Kwely Inc, a B2B wholesale distribution platform for Made-in-Africa products, has raised $700,000 in a new round of funding to bring its total capital to $1 million.

WIC Capital led this round of fundraising, which included Loftyinc Capital, Afropreneur Angels, Haskè Ventures, and other angel investors. DNA Capital, the Lead Investor, and UMA Ventures were among the first investors in the $250,000 round, which closed in July 2021.

“Kwely is bridging the gap between African producers, worldwide customers, and international purchasers.” “Our vision is to be the top African B2B e-commerce platform that transforms the way African buyers and sellers trade with one another and with the rest of the world,” says Birame N. Sock, Founder and CEO of Kwely Inc. “We’ve seen the impact Alibaba has had on China’s informal industrial sector, and we believe there’s a chance for Africa to become a key sourcing destination for international customers in economies that are still driven by tiny enterprises functioning at the artisan level,” she adds.

Kwely currently works closely with local enterprises to ensure that their products are export ready in support of its distribution strategy, from brand development to packaging. “The Kwely’s range of services perfectly aligns with WIC Capital’s long-standing effort to foster the development of high-growth women-led SMEs – because efficient packaging has always been the missing link preventing our local producers from exporting and scaling their businesses to capture extra-continental markets,” says Evelyne Dioh, CEO of WIC Gestion, which manages WIC Capital.

This fresh amount of funding will be used to boost Kwely’s marketing and distribution operations as the firm prepares to launch its digital platform and bring the numerous brands in its portfolio to market.

“At Haskè Ventures, we believe that Kwely’s work will be a game-changer for everything Made-in-Africa and large-scale global distribution.” Kwely is the first African startup to provide local businesses improved product design and distribution services. Haskè Ventures CEO Abdourahmane Diop states, “We believe Kwely’s digitally enabled B2B platform is the missing link to release distribution based on global norms and standards.”

“What the organization has accomplished thus far has amazed us. We believe Kwely has a key role to play in completing wholesale orders through collective production among suppliers, as investors focused on Africa’s future. Idris Ayodeji Bello, Founding Partner of LoftyInc Capital and Afropreneur Angels, adds, “We look forward to partnering with Birame and her team on this exciting new phase of their growth.”

Kwely, which launched in early 2020, has developed an MVP for its technology platform and validated over 200 locally produced items. Kwely aims to place high-quality Made in Africa products on the shelves and counters of major international retailers, hotels, airports, specialty stores, and restaurants through its distribution platform.

The TEKKI Challenge was first launched in Senegal in April 2021, with ten local food and cosmetics firms receiving branding, packaging, and market access support. Since then, Kwely has collaborated with these businesses to create Made-in-Africa brands that are export-ready and meet international standards. The company is getting ready to launch its packaging studio, which will provide high-quality filling, packaging, labeling, and distribution services in accordance with global standards set by the US Food and Drug Administration and other international Consumer Packaged Goods standardization agencies and certification bodies.