V8 Capital leads investor group backing Marketforce’s oversubscribed Series A

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V8 Capital Partners has led a group of new and returning investors backing Nairobi-based Marketforce’s Series A in an oversubscribed round that raised $40 million for the Nairobi-headquartered B2B retail distribution and digital financial services platform. The new investors taking part in the round include Ten13 VC, SOSV Select Fund, Vu Ventures, Vastly Valuable Ventures, and Uncovered Fund. Marketforce’s existing investors who also took part in the round include Reflect Ventures, Greenhouse Capital, Century Oak Capital, and Remapped Ventures.

Ken Njoroge, the Co-Founder and former CEO of Cellulant also invested in the round and is joining Marketforce’s Board of Directors as its Chairman. The raise, which is said to be the largest Series A of its kind to date in East and Central Africa, comes just 7 months after the startup wrapped up its pre-Series A.

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