A Kenyan startup, Badili, has received a major boost to its business after receiving KES 230 million in pre-seed funds. The company, which deals in second-hand phone commerce, received the funding from different investors and venture capitalist firms.
Badili was founded in 2019 by a Kenyan entrepreneur, Patrick ‘Pato’ Ochieng. The startup offers a platform where customers can buy and sell second-hand smartphones. The mission of the startup is to find ways to make smartphones more affordable for consumers in the African market who can’t afford new phones. The company also aims to provide a clean, secure, and reliable buying and selling platform for customers.
With the KES 230 million, the company plans to expand its operations. The funds will be used to develop a mobile application and also to expand the reach of the platform to different other markets. Additionally, Badili plans to use the pre-seed funds to build a customer base and to create jobs in the country.
The news of the pre-seed funding has generated a lot of interest from investors and venture capitalists all over the world. It demonstrates the potential of Badili and shows that investors are eager to invest in Kenya’s tech space. This has been bolstered by the fact that the Kenyan government has been actively encouraging startups with tax breaks and other incentives.
The success of Badili is also an example of how technology can be used to unlock value in emerging markets such as Kenya. By providing an accessible platform for people to buy and sell second-hand smartphones, the company has opened up an entire market that offers greater convenience, and affordability to customers.
With the pre-seed funds of KES 230 million, Badili is well-positioned to become a major player in the second-hand phone industry. This demonstrates the importance of the tech sector not only to Kenya, but to emerging markets all over the world.