Kenyan integrated tech platform for construction supplies, Jumba, has closed a $4.5 million seed funding round led by LocalGlobe.
With the new investment, Jumba plans to scale across the Kenyan market, taking advantage of the expanding construction industry, as it acquires more customers.
Investors who participated in the round were Enza Capital, which led its $1 million pre-seed round last year, Foundamental, Seedstars International Ventures, Logos Ventures, SpeedInvest, First Check Africa and Alumni Angel Network.
Jumba simplifies the purchase and supply chain between construction companies and customers. This helps companies make more supplies in a day, enable end users never run out of stock and provide the opportunity to track spends.
The startup was founded last year by Kagure Wamunyu, also the CEO, and Miano Njoka, the CTO, to decentralize the distribution of manufacturing necessities throughout the country. Jumba initially focused on serving retailers, but then shifted target to developers.
These retailers and developers can access construction materials through Jumba’s one-stop website where sourcing and logistics are managed, documents and invoices are provided and negotiations for affordability are done by Jumba.
Through partnerships with banks, the construction tech company provides buy-now-pay-later services to retailers, while plans for developer’s long-term credit are still cooking.
