Jumba, a Kenyan marketplace for construction materials, has completed a $4.5 million seed funding round.
The seed funding comes a year after the company’s initial $1 million in pre-seed funding.
LocalGlobe led the funding round, and Enza Capital joined it along with other investors like Foundamental, Seedstars International Ventures, Logos Ventures, SpeedInvest, and First Check Africa.
The startup, which was founded by Kagure Wamunyu and Miano Njoka, makes it simple for real estate developers and dealers of building materials to get building materials.
The startup experienced a meteoric rise over the previous year and ended the previous year with quarterly growth that was three times what it was.
In order to fulfill the rising demand for its services, it is expanding operations and already serves 60% of Kenya’s 47 counties.
The company is “expanding very quickly, and our difficulty has always been that we have considerably more demand than we can meet,” according to Kagure Wamunyu, CEO of Jumba.
The co-founders started supplying building supplies to real estate developers after initially focusing primarily on construction material merchants.
They discovered Jumba could support both merchants and developers as a result of the magnitude of demand.
Before entering other countries, the business intends to use the capital to attract more customers in Kenya.
Read more on Tech Gist Africa:
BuuPass, a B2B2C platform for managing buses in Kenya, has secured $1.3 million in pre-seed funding
MyHealth Africa, an e-health startup in Kenya, has raised $1 million in seed funding
Kapu, a social commerce startup in Kenya, has received $8 million in funding