Monday, August 8, 2022
Monday, August 8, 2022
Home Entrepreneurship Kenya’s Kibanda TopUp Raises $460k Pre-seed Funding

Kenya’s Kibanda TopUp Raises $460k Pre-seed Funding

by Milcah Lukhanyu
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Kibanda TopUp,Kenyas leading restaurant partner has raised $460k Pre-seed Funding. The round was led by JAM Fund, including  mpharm founder and CEO Gregory Rockson, Flutter wave’s CEO Olugbenga Agboola, Cem Garih of Alarko Ventures, Early Berrywood Capital, and other angel investors.

Kibanda TopUp was Launched by co-founders Njavwa Mutambo and Emilie Blauwhoff, in February 2021, the company works TopUp allows restaurant owners to order inventory such as grains, beverages, poultry, and beef via app or SMS and receive their orders the next day.

According to Mutambo the COVID-19 pandemic outbreak in Africa was a stark reminder of how fragile Africa’s food supply chains are. With half of the African population eating from largely informal restaurants daily, strengthening restaurants’ supply chains is a matter of food security.

He added that Kibanda is on a mission to increase restaurants’ contribution to African GDP. This means enabling restaurants with the stock and financial services they need to serve Africa’s growing population.

Kibanda has served over 130 restaurants in Nairobi. and it has now raised US$460,000 in pre-seed fund will help to hire critical team members in engineering and supply chain that will enable fast growth and development of additional products.

 On the other hand,Rockson said local informal restaurants are the heart of social commerce in African neighborhoods That. Kibanda Top up has a great opportunity to drive a transformation of these businesses into a formal restaurant cooperative to maximize the economic potential. I am excited about the team behind this journey as they have the right experience and intent to build a huge business.

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