MarketForce

marketforce.io

Company Overview

MarketForce, formerly known as MarketForce360 or MarketForce 360, is a B2B company operating predominantly in the retail sub-industry. Incorporated in 2019, the company is based in Nairobi, Kenya, and has grown to a team size of 400. MarketForce focuses on empowering neighborhood merchants across Africa by providing a digital platform for sourcing, ordering, and paying for inventory. The company operates in five markets within Sub-Saharan Africa and maintains an asset-light business model.

Services

MarketForce offers a variety of services designed to support local merchants. These include a digital banking wallet with credit facilities, which allows merchants to manage funds and access credit. The company also enables digital payment collections and provides additional income opportunities through agency banking services. Furthermore, MarketForce allows merchants to resell digital financial services such as airtime, electricity tokens, and bill payments. These comprehensive solutions aim to streamline retail operations and enhance financial inclusion.

Geographical Reach

MarketForce has a significant geographical footprint. With its headquarters in Nairobi, Kenya, the company also has operations in Lagos, Nigeria; New York, USA; Kampala, Uganda; Dar Es Salaam, Tanzania; and Kigali, Rwanda. The firm's influence stretches across Africa and includes both local and remote operational capacities, reaching a wide range of merchants in various regions.

Market Impact and Statistics

MarketForce has a substantial impact on the retail sector in Sub-Saharan Africa. The company has mapped over 250,000 retail outlets and engages with over 200,000 merchants and 180 consumer brands on its platform. It has processed over $500 million in transactions and works with more than 200 brands. These figures highlight the firm's pivotal role in the retail ecosystem, facilitating efficient trade and digital financial services.

Y Combinator Backing

MarketForce was part of the Y Combinator's Summer 2020 (S20) batch. Y Combinator is a well-known startup accelerator that provides seed funding, mentorship, and networking opportunities to startups. Participation in the S20 batch has likely contributed to MarketForce's rapid growth and expansion, offering critical resources and industry connections to help achieve its business goals.

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