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$1 M seed funding received by Senegalese B2B marketplace Kwely

Kwely, a Senegalese B2B wholesale distribution channel for “Made in Africa” items, has secured a seed round of investment of US $1 million.

Kwely was founded on the notion that “Made in Africa” products have a place on the global market and may assist strengthen African exports and the continent’s industrial sector. It was founded by Birame Sock, a software entrepreneur who successfully exited two firms in the US.

The company focuses on the development of existing and new brands with local suppliers in order to achieve export-ready status, a proprietary platform to support global B2B wholesale transactions, and a packaging studio to provide the services required to deliver products that meet international standards.

WIC Capital, LoftyInc Capital Management, Haskè Ventures, and other significant investors contributed an additional US $700,000 to Kwely’s seed round, bringing the total to US$1 million. It intends to obtain a Series A round of funding before the end of 2022.

This fresh amount of investment will be used to boost Kwely’s marketing and distribution operations as the firm prepares to launch its digital platform and bring the numerous brands in its portfolio to market.

“Kwely is working to connect the dots between local African producers, global consumers and international buyers. 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 Sock, founder and CEO at Kwely.

“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.”

“The range of services offered by Kwely perfectly aligns with WIC Capital’s long-standing effort to foster the development of high-growth women-led SMEs – because efficient packaging has always been the missing link preventing our local producers from exporting and scaling their businesses to capture extra-continental markets,” said Evelyne Dioh, CEO of WIC Gestion, managing WIC Capital.

 

 

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