Kasha, a Rwandan and Kenyan e-tailer focused on women, has received equity funding of $1 million from the DFC to cater for women in low-income areas in the two East African countries.
Founded in 2016 by Joanna Bichsel, Kasha is a purpose-driven company delivering hygiene and personal care products to its women customers at affordable prices via its web and mobile apps.
Apart from Kasha, Kenya’s Copia received $5 million while 4G Capital received a $2.9 loan for expansion. The funding was part of the U.S. International Development Finance Corporation (DFC) approved investments this quarter totaling more than $2.5 billion across nine projects that will advance development in Africa, Latin America, and emerging markets across the globe.
An additional 30 investments totaling more than $1 billion were approved by the agency since its last quarterly Board meeting in June, bringing total investments approved over the quarter to more than $3.6 billion.
According to DFC Chief Executive Officer Adam Boehler. “DFC’s work over the past three months will unlock billions of dollars in some of the world’s most impoverished countries. These projects will help stabilize communities across the world and prepare them to thrive in the years ahead. I am extremely proud of the DFC team and grateful to our agency’s many partners for their continued leadership in the face of the pandemic.”
Kasha officially launched in Nairobi in May 2019, three years after launching in Rwanda with the ambition to give women access to the products that they need in a confidential, convenient and affordable way.
“E-commerce is thriving in East Africa, with over 21 million people accessing mobile financial services hence making it easier for consumers to shop online. However, women, who directly make or influence 80% of consumer purchases remain highly underserved in their access to high quality and genuine products’ said Joanna Bichsel, Co-founder and CEO of Kasha during the Nairobi launch.
Kasha is tapping into this vast opportunity with its diverse product portfolio that include; menstrual care products, bath and body, sexual health contraceptives & HIV self-tests, beauty products and baby products. Due to the nature of their customers’ needs, the online company will be working to deliver purchased items to customer’s destinations within an hour.
The company has served over 55 000 clients, of which 75% are low-income, and delivered close to 600 000 products out of which 275 000+ are health products.
In April this year, Kasha raised $1 million funding from Finnfund for pan-African expansion. This new round of investment will help it expand its menstrual care products, contraceptives, pharmaceuticals and a range of beauty products via its own platform, accessible through basic phones and a website and delivered to customers confidentially.