Kenya-based Powered by People gets $5 million seed to scale operations of its wholesale e-commerce platform –
Summary
A wholesale e-commerce platform based in Kenya, with hubs in the Americas, Asia and Europe, Powered by People, has secured $5 million in seed funding to increase its transaction volume by growing the number of small brands using its B2B online marketplace to reach international buyers. It brings the total funding raised by the startup to $7 million, having previously received support from a number of investors, including the Founders Factory Africa, Mercy Corps and the Mastercard Foundation. We are also investing in building our senior leadership.” The startup works with more than 200 brands and over 45,000 artisans from 47 countries, who sell to retailers like West Elm and The Citizenry, across major markets including in North America and Asia. We have also introduced them to wholesale, which we think is the best way to source from any country, and make business sense too.” The startup also extends up to 50% advance financing to traders, helping them to quickly process customer orders. Back in 2011, she teamed up with Catherine Mahugu and Gwendolyn Floyd to launch Soko, a fashion brand that works with thousands of artisans to produce accessories for sale to international markets.