iProcure, founded in 2014, is a Kenyan B2B agtech that builds a pan-African distribution infrastructure and provides a mobile-based ERP to connect manufacturers and distributors with local agro-dealers. The platform currently connects 5,000 agro-dealers and aims to double its distribution hubs to 20 to boost last-mile delivery. The company says it has grown 16x over the last four years and doubled revenue every year except 2020 due to COVID. iProcure operates in Kenya and Uganda and plans to enter Tanzania. Product and service plans include introducing higher-quality, cheaper products sourced internationally, extending zero-interest credit to agro-dealers, and launching a buy-now-pay-later (BNPL) offering to increase retailers' purchasing power. These efforts are intended to expand retailer and farmer reach and stabilize input availability and prices. iProcure is a Kenyan tech startup that provides a plug-and-play last-mile distribution platform for agricultural retailers, with a version catered for mobile phones. The software helps retailers manage orders using inventory status, point-of-sale activities, individual client profiles, geo-located purchasing patterns, real-time agent performance and built-in mobile payments. Those features enable retailers to better predict demand with business intelligence, improve inventory management, and streamline distribution efficiency. To date the company has connected wholesalers and distributors to more than 5,000 small retail outlets across Kenya. The article frames iProcure’s offering as relevant to meeting rising food demand as Africa’s population grows and smallholder production must scale. iProcure recently joined Invested Development’s BSP Fund portfolio of companies using technology to address underserved markets.

Total raised

$10M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Aug 2022