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MarketForce winds down its B2B e-commerce arm
At its peak, it raised $40M Series A debt-equity funding, employed over 800 people and served 270,000 informal merchants.
The shutdown of the B2B e-commerce arm dubbed RejaReja comes months after MarketForce withdrew the service from all its markets, including Nigeria and Kenya, save for Uganda. The marketplace, launched in 2020, hoped to tap the informal retail sector in the continent, which accounts for about 80% of household trade in sub-Saharan Africa. Firstly, the retail FMCG market has razor-thin margins, which means that at a unit level, we struggled with profitability.
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