Wasoko Valuation, Funding & Investors

Wasoko is valued at $625M as of March 2022.

Last Wasoko valuation

$625M

Series B · Mar 2022

Last Wasoko funding round

$125M

Series B · Mar 2022

Cumulative funding Wasoko raised

$144M

across 4 funding rounds

Key investors in Wasoko

  • 4DX Ventures
  • Golden Palm Investments
  • Tiger Global
  • Partech
  • Village Global
  • Breyer Capital

Wasoko Overview

About Wasoko

Wasoko supplies fast-moving consumer goods to 500,000 informal retailers across Kenya, Tanzania, Rwanda, Uganda, and Zambia. Merchants order via SMS or Android app from Nairobi warehouses, receiving same-day deliveries of rice, oil, and hygiene products. The platform partners with Unilever and Coca-Cola for distribution in East Africa.


Founded

2013

HQ

KenyaNairobi

Website

wasoko.com

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$625M (Mar 2022)

Wasoko Valuation

Wasoko is currently valued at $625M, based on its Series B in March 2022.

The $125M round was led by Avenir and Tiger Global.

Wasoko valuation by funding round

Wasoko valuation by funding round
DateStageValuation
Mar 2022Series B$625M

Wasoko Funding History

Wasoko has raised a total of $144M across 4 funding rounds.

Wasoko's first fundraising round was a $2M seed round in July 2018. The most recent completed round was a $125M Series B in March 2022.

Wasoko funding rounds

Wasoko funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2022Series BAvenir (lead); Tiger Global (lead)$125M$625MWasoko, formerly Sokowatch, is a Nairobi-based B2B e-commerce platform founded in 2014 that digitizes informal supply chains for small merchants across East Africa, providing groceries, consumer goods, and services like point-of-sale systems through an app-based model. By March 2022, it operated in six markets with 800 employees, all shareholders via a universal equity policy, and raised over $150 million total funding prior to the Series B. On March 16, 2022, Wasoko secured a $125 million Series B round co-led by Tiger Global and Avenir Growth Capital, valuing the company at $625 million post-money, as confirmed by TechCrunch and investor reports. Additional participants included VNV Global ($20 million investment), Binny Bansal (Flipkart co-founder), Sujeet Kumar (Udaan co-founder), Quona Capital, 4DX Ventures, Golden Palm Investments, and JAM Fund. The startup received approximately $113 million of the committed funds. This followed a $14 million Series A in 2020, $2 million bridge in 2019, and $10 million debt from IFC in 2021. Proceeds supported expansion into West Africa (e.g., Nigeria), Southern Africa, product enhancements like bill payments and social commerce, and potential acquisitions. The round marked Tiger Global's 10th African deal and second e-commerce investment, and Avenir's third on the continent. Post-round, VNV Global valued Wasoko at $501 million in Q4 2022 but marked it down to $260 million by December 2023 amid merger talks with Egyptian peer MaxAB, reflecting broader B2B e-commerce challenges like tough unit economics and funding squeezes in Africa. Wasoko emphasized VNV's ongoing support and long-term growth potential.
Feb 2020Series AQuona Capital (lead)$14M-Wasoko, formerly Sokowatch, is a Kenyan B2B e-commerce platform enabling informal retailers to order inventory from fast-moving consumer goods suppliers with same-day delivery and rotating credit lines based on merchant data. The company raised $14 million in a Series A extension round led by Quona Capital, with participation from Amplo, Breyer Capital, and Vertex Ventures, around June 2020. Funds supported digitizing Africa's B2B supply chain, broadening client services, transitioning to data analytics, and expanding in East Africa. Prior bridge funding of $2 million came from Quona Capital and Amplo in October 2019. Quona waited for Wasoko to achieve growth metrics and product-market fit before leading the investment, having nominated it for $100,000 from Catalyst Fund earlier.
Feb 2019SeedBreyer Capital; Esas Ventures; Invenfin; Partech; Babatunde Soyoye; Golden Palm Investments; 4DX Ventures; Arzan Venture Capital; Middle East Venture Partners (MEVP); Breyer Labs; Cem Garih; CommerzVentures$3M--
Jul 2018Seed4DX Ventures (lead); Village Global; Catalyst Fund; Lynett Capital; Justin Mateen; GE32 Capital; Golden Palm Investments; Outlierz Ventures$2M--

Who has invested in Wasoko?

21 investors have backed Wasoko across its funding rounds, including 4DX Ventures, Golden Palm Investments, Tiger Global, Partech, Village Global and Breyer Capital.

Lead investors include Avenir, Tiger Global, Quona Capital and 4DX Ventures.


Wasoko Investors

Investors in Wasoko by funding rounds participated
InvestorHQRoundsRoleFirst check
Golden Palm InvestmentsGhanaAccra2ParticipantJul 2018
4DX VenturesUnited StatesUnited States2LeadJul 2018
Breyer CapitalUnited StatesSan Francisco, CA1ParticipantFeb 2019
Village GlobalUnited StatesLos Angeles, CA1ParticipantJul 2018
Esas VenturesTurkeyIstanbul1ParticipantFeb 2019
InvenfinSouth AfricaCape Town1ParticipantFeb 2019
Catalyst FundKenyaKenya1ParticipantJul 2018
PartechFranceParis1ParticipantFeb 2019
Lynett CapitalUnited StatesSan Francisco, CA1ParticipantJul 2018
Justin MateenUnited StatesUnited States1ParticipantJul 2018
GE32 CapitalBrazilSão Paulo1ParticipantJul 2018
Babatunde SoyoyeUnited KingdomLondon1ParticipantFeb 2019
Tiger GlobalUnited StatesNew York City, NY1LeadMar 2022

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Acquisitions by Wasoko

Wasoko has acquired 1 company to date.

Last acquisition by Wasoko was on December 22nd 2023. Wasoko acquired MaxAB for undisclosed valuation.


Latest Acquisitions by Wasoko

MaxAB
Description
MaxAB is a Cairo-headquartered B2B e-commerce platform founded in 2018 that links food and grocery retailers with suppliers in underserved Egyptian regions. The company deploys technology-enabled supply chains for product availability, premium service, and operational support, re-engineering informal markets with precise inventory distribution.
HQ CountryEgypt
HQ City
Cairo
Deal Date22 Dec 2023
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Wasoko Competitors

Wasoko competitors include listed companies like Upwork and DIP, and private ones like Reibus, waresix, Medikabazaar and Provi.

Public and private companies comparable to Wasoko
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ReibusUnited StatesAtlanta, GAPrivate--$750M-
waresixIndonesiaJakartaPrivate--$420M-
MedikabazaarIndiaMumbaiPrivate$166M$3M$700M4.2x
ProviUnited StatesChicago, ILPrivate--$750M-
UpworkUnited StatesUnited StatesPublicly listed$788M$180M$1.1B1.1x
DIPJapanJapanPublicly listed$353M$85M$623M1.5x

Wasoko Public Comps

Wasoko is still privately-owned, but its public comps include DIP, Posti Group, Cars.com, MediaAlpha, Maoyan Entertainment, Hypoport, Nerdwallet, Hemnet, Aramex and Singapore Post.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
DIP$353M$85M1.5x1.5x6.1x7.4x
Posti Group$1.7B$208M0.7x0.7x5.8x5.3x
Cars.com$723M$157M1.4x1.4x6.5x4.8x
MediaAlpha$1.1B($97M)0.7x0.6x(7.9x)6.0x
Maoyan Entertainment$691M$124M0.1x0.1x0.7x1.0x
Hypoport$694M$78M0.8x0.8x6.9x6.8x
Nerdwallet$837M$112M0.6x0.6x4.7x3.6x
Hemnet$156M$78M4.8x5.2x9.6x11.1x

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Common questions about Wasoko

When was Wasoko founded?Wasoko was founded in 2013.
Where is Wasoko headquartered?Wasoko is headquartered in Nairobi, Kenya.
Is Wasoko publicly listed?No, Wasoko is a private, VC-backed company.
What is Wasoko's valuation?Wasoko was last valued at $625M in its Series B in March 2022.
How much funding has Wasoko raised?Wasoko has raised $144M across 4 funding rounds.
What was Wasoko's last funding round?Wasoko's last funding round was a $125M Series B in March 2022, led by Avenir and Tiger Global.
Who are Wasoko's investors?Wasoko's investors include Golden Palm Investments, 4DX Ventures, Breyer Capital, Village Global, Esas Ventures, Invenfin, Catalyst Fund, Partech, Lynett Capital, Justin Mateen and 11 others.
Which companies are comparable to Wasoko?Companies comparable to Wasoko include Reibus, waresix, Medikabazaar, Provi, Upwork and DIP.
How many companies has Wasoko acquired?Wasoko has acquired 1 company, including MaxAB.

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