Kenyan e-commerce start-up, Powered by People, has raised $1.5 million in seed funding to expand its team and grow its fintech platform for local retailers.
The round was led by Matt Kalish of DraftKings and TBD Angels.
The funding will be used to expand its team and grow its fintech platform for local retailers.
Other angel investors who are affiliates with DraftKings, Skillz and Uber, and impact investors, Good+Well, also participated in the round.
Powered by People’s previous investors and financial supporters include Founders Factory Africa, Mercy Corps and the Mastercard Foundation.
Powered by People is a mobile-first, distributed manufacturing system offering online tools, financing solutions, and a B2B marketplace to the small and mid-sized enterprises (SMEs) in the creative manufacturing and handmade sector.
The start-up connects handmade and natural cosmetic producers across Africa, Asia and Latin America via a wholesale platform, offering retailers credit lines with flexible payments, discovery of diverse global brands and products, and the ability to customise products for exclusive offers in their store.
Its brands are global suppliers to companies such as William Sonoma, IKEA, Crate and Barrel, Nordstroms and Goop, among others.