Senegal-based B2B Marketplace Kwely has recently concluded a $1 million seed funding round with a fresh $700,000 capital injection led by WIC Capital with participation from Loftyinc Capital, Afropreneur Angels, Haskè Ventures, and other angel investors. In July 2021, Kwely had raised $250,000 seed with Lead investor DNA Capital and UMA Ventures coupled with the new investment, bringing its total funding to $1 million.
Developing Export-Ready Made in Africa Products
E-commerce is predicted to boost Africa’s economic growth by creating opportunities for small and large businesses and promoting market integration. B2B marketplaces with transactional capacity or value-added services are uncommon in Africa, although the sector is developing as new startups emerge.
African enterprises widely use B2B marketplaces. Startups do not only create these inventions but they are also refined to fulfill client needs.
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Kwely has teamed with these businesses to co-develop export-ready Made in Africa products and brands that match international quality requirements.
The firm will be able to offer filling and packaging solutions that suit the standard of quality and compliance with international practices, such as those established by the US Food and Drug Administration, other global Consumer Packaged Goods standardization agencies, and certification bodies for the food and pharmaceutical industries, thanks to the opening of its international packaging studio standards.
Redefining African Products Perception with $1M Seed
According to the startup, the funding will support Kwely’s marketing and distribution of more than 200 SKUs it represents exclusively, including its B2B wholesale digital platform for “Made-in-Africa” products and the implementation and launch of its packaging services facility.
“Our goal is to be the leading African B2B e-commerce platform that redefines the perception of African products and how African buyers and sellers transact with each other and the rest of the world. Kwely is working to connect the dots between local African producers, global consumers and international buyers,” said Birame Sock, Kwely founder and CEO.
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Kwely works with countries across Africa from brand development to packaging to ensure their products are ready to be exported.
“We have seen the impact Alibaba has had on the informal industrial sector in China and believe 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,” says Birame.
About Kwely Inc.
Founded in 2020 by Birame Sock, a tech entrepreneur who successfully exited two startups in the US, Kwely was launched under the premise that “Made In Africa” products have a place on the global market and can help boost African exports, as well as the continent’s industrial sector.
The startup focuses on developing existing and new brands with local suppliers to get to export-ready status, a proprietary platform to support B2B wholesale transactions on the global market, and a packaging studio to provide the services needed to deliver products that meet.
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Kwely has developed a minimum viable product (MVP) for its technology platform and authenticated over 200 products made in the country. Its distribution platform aims to get high-quality Made in Africa products onto the shelves and counters of major international retailers, hotels, airports, specialty stores, and restaurants.