Kenya has the largest and most thriving furniture industry in East Africa, but the sector’s potential is hindered by several challenges among them production inefficiencies and quality concerns, forcing most major retailers to settle on imports.
MoKo Home + Living, a Kenya-based home furniture manufacturer and omnichannel retailer, saw this gap and over several years set out to bridge it through quality and guarantees. The company is now eyeing its next phase of growth, following a $6.5 million series B debt-equity funding round, co-led by U.S based investment fund Talanton and Swiss investor AlphaMundi Group.
Novastar Ventures, which co-led the firm’s Series A round, and Blink CV also made follow-on investments. Kenya’s Victoria Commercial Bank offered $3 million debt financing, $1 million of which is mezzanine financing – a debt that can be turned into equity.
“We entered this market because we saw a real opportunity to guarantee and deliver
