Tech in Africa
MarketForce 360 is the only startup from Subsaharan Africa that made it to the 2020 Y Combinator batch. The retail-tech startup bagged $150,000 in funding too.
MarketForce 360 was launched in 2018, to help consumer brands optimize their delivery of goods and services to customers and retailers. Targeting emerging markets, the platform aims to correct the outdated service model wherein an army of field agents act as the sole means of interaction between field agents and their customers. MarketForce addresses this challenge through its comprehensive field sales and distribution platform.
Earlier this year in May, MarketForce raised $350,000 worth of seed funding to fuel its impressive run and goal to generate new revenue streams. This funding came from ViKtoria Business Angels Network (VBAN), P1 Ventures, EchoVC Partners, and Ventures Platform. Baobab Insights listed the startup on the list of companies that caught their eye in Q2 of this year.
The $150,000 secured from Y Combinator will fuel the launch of their new product MarketForce Troops, enabling FMCGs and financial service providers to grow retail distributions channels. In a statement by co-founder Tesh Mbaabu, alongside Mesongo Sibuti delivered to Disrupt Africa, he stated,”To fully bridge the gap in last-mile distribution, it is crucial that we couple up our technology with essential services on the ground in order to create maximum impact for our initial customers.”
MarketForce 360 eventually aims to create thousands of jobs for the African youth while ensuring those in urban and rural areas get access to essential goods and financial services.
