Kenyan B2B construction tech startup Jumba raised $4.5 milion in SEED led by LocalGlobe where Enza Capital, Foundamental, Seedstars International Ventures, Logos Ventures, SpeedInvest, First Check Africa, and Alumni Angel Network also participated.
Jumba enables construction material retailers to replenish their inventories and real estate developers to obtain the supplies they require for their projects. The startup is also working to alleviate retailers’ financing woes through short-term financing backed by its bank partners, with plans to extend long-term credit to developers as well. Jumba’s goal is to make sourcing construction materials easier for retailers and developers by providing a centralised marketplace that eliminates the hassle of dealing with multiple suppliers.
