Retail Tech Platform Duhqa Banks $2M Seed Funding
Kenyan B2B retail tech startup Duhqa nets $2M seed funding to scale regionally.
Duhqa, a B2B platform for retail distribution of consumer goods in FMCG cold chain and pharmaceuticals has gathered capital of $2 million. In a round which included CrossFund, Roselake ventures and Mo Angels, also featuring a number of existing investors including Tech stars and strategic angels.
Retail industry around the globe faces difficulties in terms of incomplete deliveries-consequently losing their customers. As per stats after three, late or incomplete deliveries 78% of buyers do not use the same retailer again, 30% of customers leave within two hours and 87% of the shoppers leave if there is no assistant nearby. Duhqa is here to solve all retail problems with timely delivery and with this fresh injection of funds the startup aims to scale its service offered within Kenya and East Africa.
It also plans to develop existing markets and gather more tech tools for its growing merchants network. Right now, it is running an asset-light model currently-with a team of 40 members, but wants to to triple its size before the end of the year.
Founded in 2021 by Victor Maina, Davis Angwenyi and Dudu Moilwa, the platform empowers informal African merchants to digitally source and pay for inventory, get delivery and access short-term financing. It has been in Kenya for over a year- and has made 57,570 deliveries, and got 5,311 retailers registered. Plus over 38 manufacturers signed up. It also provides easy access to short term loans to help shop owners purchase goods for their shops-the startup claims that these loans are approved within just five seconds
Retailers in Africa struggle to get access to thousands of products from different manufacturers conveniently and affordably. Also getting their deliveries on time- here with Duhqa products are delivered within 24 hours after the original order placement.
Victor Maina one of the founders of the startup said:
“Our goal is to address the gaps in African distribution logistics with the best in logistics, e-commerce, financing and data insights which are needed to build a better, leaner African distribution sector. The significant demand for our solution, an improved way for companies to distribute their goods and services to mass markets in Africa has caught on.”
About the funding he said:
“We are thrilled to get a boost from returning and new investors at this crucial time. This will enable us to continue making it easier for retailers to trade by connecting them to manufacturers and giving them the resources to be efficient.”
The startup previously had gathered funding of $2million.