Kenya-Based B2B BNPL Raises $125 Million in Series A Funding Led by Keneo Capital

Kenya-Based B2B BNPL Raises $125 Million in Series A Funding Led by Keneo Capital

Kenya-based B2B buy now, pay later (BNPL) startup, Oko, has raised $125 million in Series A funding led by Keneo Capital. The new funds will be used to expand Oko’s reach in Africa, as well as to drive innovation and product development.

Overview of B2B Buy Now, Pay Later

Buy now, pay later (BNPL) is a payment solution that enables customers to purchase goods and services now and pay for them later, either in full or in installments. B2B BNPL is an emerging form of BNPL that is specifically tailored for business customers, and it provides businesses with the flexibility to purchase items without having to immediately pay for them. This provides them with the ability to purchase items without having to worry about upfront costs or cash flow.

Overview of Oko

Oko is a Kenya-based B2B BNPL startup, founded in 2020. The company provides businesses with the ability to purchase goods and services now and pay for them later, either in full or in installments. The company offers a variety of payment options and terms, and the company’s platform enables businesses to manage and track expenses, as well as to access real-time analytics.

Overview of Keneo Capital

Keneo Capital is a venture capital firm based in Kenya. The firm was founded in 2017 and has invested in over 50 companies across Africa, including Oko. The firm focuses on early-stage startups and has a strong focus on fintech, e-commerce, logistics, and agriculture.

Funding Details

Oko has raised $125 million in Series A funding led by Keneo Capital. The new funds will be used to expand the company’s reach in Africa, as well as to drive innovation and product development. The funding round also included participation from existing investors, such as Novastar Ventures and Goldman Sachs.

Impact of Funding

The new funds will enable Oko to expand its operations and reach in Africa, as well as to drive innovation and product development. The funds will also enable the company to strengthen its customer base and to further improve its platform. This will ultimately help the company to better serve its customers and to grow its business.

Conclusion

Kenya-based B2B BNPL startup Keneo has just secured a $125M Series A funding round, led by 625M, a venture capital firm. This funding will enable Keneo to further expand its services and products, as well as to bring innovation to the B2B payments space. This is a significant milestone for the startup, and demonstrates the potential of the B2B payments industry in Kenya and beyond. With the right support and investment, Keneo is well positioned to become a leader in the B2B payments space.

clicktosearchnews

Leave a Reply

Your email address will not be published. Required fields are marked *