MarketForce, a Kenyan retail distributor has raised $40 million Series A funding to facilitate merchant inventory financing and expansion beyond Nigeria and Kenya as it looks to enter more markets in East and West Africa.

The new funding which is a combination of debt and equity comes seven months after the startup raised $2 million pre-Series A funding, and was led by V8 Capital Partners, a London and Lagos based African-focused investment vehicle.

Other participants include Ken Njoroge, Cellulant co-founder who joins the MarketForce board as chairman as well as Ten13 VC, SOSV Select Fund, Vu Ventures, Vastly Valuable Ventures, Uncovered Fund, while existing investors that took part in the round include Reflect Ventures, Greenhouse Capital, Century Oak Capital and Remapped Ventures.

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