MarketForce forced to tighten its belt as tough times hit

MarketForce forced to tighten its belt as tough times hit

The YC-backed Kenyan B2B e-commerce startup has had to slow down its growth plans, and downsize amid cash crunch but Mbaabu remains optimistic

The Kenyan B2B e-commerce platform MarketForce, which helps independent corner shops source goods, faced challenges after its plans to expand and raise funds were disrupted. After closing a $40 million Series A funding round in February 2022, MarketForce experienced difficulties when some committed funds were not delivered, resulting in a cash crunch. As a result, the company had to downsize, lay off employees, and delay payments to suppliers. However, MarketForce has restructured its business to focus on sustainable growth and profitability. Despite the challenges, the company remains optimistic and is in discussions with investors to secure additional funding. MarketForce aims to continue serving the informal retail sector in Africa and enable traders to order goods for next-day delivery through its merchant super-app, RejaReja. The company believes that facing challenges head-on and prioritizing customer satisfaction are crucial for success.

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