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§ Private Profile · Nairobi, Kenya
The SuperApp for neighbourhood merchants in Africa.
MarketForce has raised $42.0M across 2 funding rounds.
Key people at MarketForce.
MarketForce was founded in 2018 by Mesongo Sibuti (Founder) and Tesh Mbaabu (Founder).
MarketForce has raised $42.0M in total across 2 funding rounds.
MarketForce empowers neighbourhood merchants in Africa to source, order and pay for inventory digitally and conveniently, access a banking wallet with credit facilities, collect digital payments and earn extra income by offering agency baking services and reselling digital financial services such as airtime, electricity tokens and bill payments in their communities.
Incorporated in 2019, MarketForce is a fast-growing company running an asset-light business model and is currently operational in 5 markets in Sub-Saharan Africa, with over 200,000 merchants and 180 consumer brands trading on the platform.
MarketForce is a B2B SuperApp that empowers informal neighbourhood merchants across Africa by providing digital commerce, financial, and banking services through a single platform. Its flagship product, the merchant super app *RejaReja*, enables merchants to source, order, and pay for inventory digitally and conveniently, access financing such as buy now pay later (BNPL), collect digital payments, and resell digital financial services like airtime and bill payments. MarketForce targets informal merchants who traditionally operate offline, helping them transform from simple FMCG outlets into comprehensive financial service hubs. The company has rapidly scaled to serve over 200,000 merchants across five African countries with plans to reach 1 million by 2025, processing over $300 million in transactions since launch[1][2][3][5][7].
For an investment firm, MarketForce’s mission is to digitize and empower Africa’s informal retail sector by providing technology that enhances merchants’ profitability and access to financial services. Its investment philosophy centers on scalable, asset-light business models that leverage technology to unlock large underserved markets, particularly in tier-2 cities with less competition and higher margins. Key sectors include B2B commerce, fintech, and retail distribution. MarketForce’s impact on the startup ecosystem is significant, as it accelerates digital adoption among MSMEs, drives financial inclusion, and creates a data-driven marketplace that benefits FMCG manufacturers and financial service providers[1][2][5].
MarketForce was co-founded in 2018 by Tesh Mbaabu and Mesongo Sibuti, both with backgrounds rooted in understanding African retail challenges. The idea emerged from recognizing that informal merchants were underserved, struggling to access inventory conveniently and lacking financial services. Initially bootstrapped, the company gained early traction by digitizing sales and distribution channels, enabling merchants to order stock via SMS or mobile app and receive next-day delivery. This convenience, combined with financial access, drove rapid growth from 5,000 to over 100,000 merchants within a year. Participation in Y Combinator and successful fundraising rounds, including a $40 million Series A, accelerated MarketForce’s expansion across Kenya, Nigeria, Uganda, Tanzania, Rwanda, and beyond[2][3][6].
MarketForce rides the wave of digital transformation in Africa’s informal retail sector, a market traditionally dominated by cash transactions and offline operations. The timing is critical as retail payments in Sub-Saharan Africa are expected to exceed $2.1 trillion by 2025, with 90% currently cash-based. MarketForce’s platform digitizes these transactions, enabling financial inclusion and formalization of MSMEs. Its expansion across multiple countries leverages growing smartphone penetration, mobile money adoption, and increasing demand for convenient credit solutions. By providing an integrated ecosystem for merchants, MarketForce influences the broader fintech and retail distribution landscape, setting a precedent for scalable, technology-driven solutions tailored to emerging markets[1][2][4][5].
MarketForce is positioned to become the dominant B2B marketplace and financial partner for informal merchants in Africa, targeting over 1 million active users by 2025. Future trends shaping its journey include continued digital adoption in tier-2 and tier-3 cities, expansion into new African markets, and deeper integration of financial services such as savings, insurance, and asset financing. Its influence is likely to grow as it drives the formalization of informal retail, enabling merchants to increase profitability and resilience. MarketForce’s asset-light, data-driven model and strong partnerships provide a robust foundation for sustained hypergrowth and ecosystem impact, making it a key player in Africa’s retail and fintech revolution[1][2][6][7].
Key people at MarketForce.
MarketForce has raised $42.0M across 2 funding rounds. Most recently, it raised $40.0M Debt / Series A in February 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 21, 2022 | $40M Debt Financing | Tobi OKE | KEN Njoroge, Century OAK Capital, Greenhouse Capital, Reflect Ventures, Remapped Ventures, SOSV, TEN13, Uncovered Fund, Vastly Valuable Ventures, VU Venture Partners | Announced |
| Jul 8, 2021 | $2M Seed Plus | — | Future Africa, Greenhouse Capital, Zachariah George, P1 Ventures, Rebel Fund, Remapped Ventures, Tobi OKE, Y Combinator | Announced |
MarketForce was founded in 2018 by Mesongo Sibuti (Founder) and Tesh Mbaabu (Founder).
MarketForce has raised $42.0M in total across 2 funding rounds.
MarketForce's investors include Tobi Oke, Ken Njoroge, Century Oak Capital, Greenhouse Capital, Reflect Ventures, Remapped Ventures, SOSV, TEN13, Uncovered Fund, Vastly Valuable Ventures, VU Venture Partners, Future Africa.
