Namibian Last-mile Distribution eCommerce Startup, JABU Secures $15m Led by Tiger Global

Tiger Global led a $15 Million Series A round for JABU. This is a last-mile distribution ecommerce startup. The startup raised $3.2 million in seed funding to expand its reach into other countries in Southern Africa and grow its team.

Box Group and Knollwood were among the other investors in this round. The round also included some backers from the seed round, including Oldslip, Afore Capital and FJ Labs.

Established in 2020 David Akinin, JABU is powering the way in which shop-owners order, source, and stock their products, and executing the last mile of distribution for FMCG brands. The startup was operating in stealth mode throughout last year, and it became the first Namibian startup accepted into the Y Combinator Accelerator’s summer 2021 batch.

JABU lets merchants order, stock and pay via Jwallet for same-day delivery. The company boasted over 6,000 merchants who used its platform in South Africa, Namibia and Zambia in January. CEO David Akinin said that number has increased by 50%.

It also offers data-driven services, including sales metrics and agent performance to FMCG brands and banks via dashboards.

The Series A round will allow JABU to expand its reach in Southern Africa, and also strengthen its presence in Eswatini and Botswana.

Commenting, CEO Akinin said: “Many businesses like ours are taking money out of the market. We’re trying to build a business that brings products into the market and continues in a journey that has a multiplier effect of moving that money 20 times around that market. And I think that’s the point of building the JABU wallet. There will be shared services; other products will stem from this and so will the ability to pay for services and products in those markets.”

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