Senegal-based B2B marketplace start-up Kwely secures US$1M seed funding round

SENEGAL – Kwely, a Senegalese B2B wholesale distribution platform for made-in-Africa products, has secured US$1M in seed funding with an additional US$700,000 fresh capital injection.

The seed funding round was led by WIC Capital with participation from Loftyinc Capital, Afropreneur Angels, Haskè Ventures, and other angel investors.

The company will use the funds to support Kwely’s marketing and distribution of more than 200 SKUs it represents exclusively, the launch of its B2B wholesale digital platform, and the implementation and launch of its packaging services facility.

The start-up connects the dots between local African producers, global consumers, and international buyers.

Founded in 2020, Kwely has developed an MVP for its technology platform and validated over 200 products that are locally produced.

The company focuses on the development of existing and new Made-in-Africa brands with local suppliers in order to get to export at international standards.

Through its distribution platform, Kwely aims to position high-quality Made In Africa products on the shelves and counters of major international retailers, hotels, airports, specialty stores, and restaurants.

Our goal is to be the leading African B2B e-commerce platform that redefines the perception of African products and the way African buyers and sellers transact with each other and the rest of the world,” said Birame N. Sock, founder and CEO of Kwely.

We have seen the impact Alibaba has had on the informal industrial sector in China and believes that there is an opportunity in economies that are still driven by small businesses operating at the artisan level, to make Africa a major sourcing destination for international buyers.”

In April 2021, the Company launched its first edition of the TEKKI Challenge in Senegal where ten local food and cosmetics brands received branding, packaging, and access to market support.

Since then, the start-up has worked with these companies to co-develop Made-in-Africa brands that are ready for export and meet international standards.

The company is preparing to launch its packaging studio which will offer filling, packaging, labeling, and distribution services with a high standard of quality and adherence to global requirements.

The company is also planning to raise its Series A round at the end of 2022 to continue with expansion plans across Africa.

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