Jumba, Tech Construction Platform Raises $4.5 Million Seed Fund

Jumba, a tech platform that makes B2B building material purchases easier, has raised a $4.5 million seed round of funding.

Enza capital, Logos Ventures, First Check Africa, Seedstars International Ventures, Foundamental, and Alumni Angel Network also contributed to the investment round, which was led by Local Globe.

Kagure Wamunyu, co-founder and CEO of Jumba, revealed that the firm now scales its operations to meet the rising demand for building materials while also covering 60% of Kenya’s 47 countries with the additional funding obtained.

In her words,

“We are growing very fast, and our problem has always been that we have way more demand than we can meet.

“Most of our customers are in counties beyond the capital, Nairobi, and the reason is that manufacturing is centralized in Nairobi, but customers are located throughout the country, and that is where we come in because we help with distribution.”

Recall that in June of last year, Jumba received $1 million in a pre-seed round to develop a digital business-to-business platform for Kenya’s primarily offline construction industry. With the current seed funding in place, the organization has now raised a total of $5.5 million since its founding.

Jumba is a construction technology firm that was established in April 2022 by co-founder and CEO Kagure Wamunyu and CTO Miano Njoka. It streamlines the procurement and supply of construction supplies with the press of a button.

By linking manufacturers and hardware stores, the firm streamlines the supply chain for building materials. Owners of hardware stores that place orders through Jumba’s platform gain access to a wide range of products, dependable delivery, and uniform pricing.

Before the co-founders started supplying construction supplies to real estate developers, Jumba’s early customers were mostly construction material stores. The business then understood it could assist both retailers and developers given the volume of demand.

Retailers have access to financing through Jumba Bank Partners’ buy now pay later (BNPL) services. The startup places a lot of attention on getting to know its consumers, their needs, and their problems so that it can design products that will satisfy them.

Jumba provides a variety of payment methods, including a Bank RTGS, Pesalink to the startup’s bank account, and Mpesa Paybill. With intentions to grow across East Africa, it presently runs in Nairobi, Garissa, Nakuru, and Njoro in Kenya.

The Kenyan construction market, on the other hand, was estimated to be worth $16.6 billion in 2021 and is expected to grow at an AAGR of more than 5% between 2023 and 2026. Investments in housing, transportation, manufacturing projects, and electricity will boost the industry’s growth during the forecasted period.