Less than a year after launching, Kenyan B2B construction tech startup Jumba has won clients in key regions of the East African country. This speaks to the growth we have experienced over the last 10 months.
Jumba restocks construction material retailers (locally considered hardware stores) on nearly every block, giving real estate developers access to the supplies they need for their projects. last year.
Co-founder and CEO Kagure Wamunyu told TechCrunch the startup, which currently covers 60% of Kenya’s 47 counties, is expanding its operations in the country to meet growing demand for construction materials. said there is. at the seed round.
The round was led by LocalGlobe, with participation from Enza Capital, which led a $1 million pre-seed round last year, Foundamental, Seedstars International Ventures, Logos Ventures, SpeedInvest, First Check Africa and Alumni Angel Network.
“We are growing very fast, but our problem is always that there is more demand than we can meet,” said Wamunyu.
“Most of our customers are in counties other than the capital, Nairobi, because manufacturing is concentrated in Nairobi, but our customers are all over the country and we support distribution, so there It’s our turn,” she said.
Jumba, who co-founded the startup with Miano Njoka (CTO), first served retailers and then started supplying construction materials to developers.
“We realized there was a need because not only hardware stores, but developers are asking for products from us,” she said.
Jumba simplifies the procurement of construction materials through a common marketplace for retailers and developers, removing the headache of dealing with multiple suppliers.
Customers access the products through a web platform, but teams of salespeople in various counties also assist customers in sourcing. Jumba then negotiates discounted prices (and price increases) with manufacturers.
“We are a one-stop-shop, managing the headaches of procurement and logistics. Using our platform, they can also access and reconcile paperwork and invoices.
“We operate in-house logistics as one of the ways we create efficiencies to get our goods to people in ways that are less expensive for them to access.”
The startup is also solving retailer financing headaches through short-term loans backed by its banking partners, and plans are underway to tap into long-term credit for developers as well.
“Retailers can access financing through services such as buy now, pay later from banking partners. Construction sites will have access to materials to complete construction in the near future,” Wamunyu said. added. Our products to suit them. We are doing this so that we can unlock access and cash flow. ”
Jamba is pioneering Kenya’s construction industry, which is expected to continue to grow, fueled by mega infrastructure projects. Moreover, Wamunyu says he is inspired to continue solving the sector’s challenges in hopes of filling Kenya’s housing shortage, which has reached 80%.
“In our B2B market, our vision remains to verticalize construction and solve the problems of the sector. Kenya remains our core market.There is great opportunity here. We plan to expand this market to get more customers before we open up the market for ,” she said.
