Dealflow | November 4, 2021

Twiga Foods secures $50 million to supply informal retailers in Africa

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, November 4 — Nairobi-based Twiga Foods is “building a one-stop-shop for informal retailers and all their needs,” says Twiga’s Peter Njonjo.

The Series C funding, led by French family office Creadev, will help the company expand in East and West Africa. Creadev’s Pierre Fauvet said Twiga has “potential to revolutionize informal retail across sub-Saharan Africa.”

Growth capital

The logistics company has raised $110 million since 2014, including a $23 million Series B round led by Goldman Sachs in 2019.

Participating investors in the new round include TLcom Capital, IFC, DOB Equity, Endeavor Catalyst Fund, Goldman Sachs spinoff Juven and Finnish development finance agency Finnfund.