Sevi, a Kenyan fintech firm regulated by the Central Bank of Kenya, has recently secured fresh investment from Renew Capital. This new funding marks a significant milestone for Sevi as it continues to revolutionize stock financing for wholesalers and retailers with its innovative “stock now, pay later” solution.
The platform addresses a crucial challenge faced by small and medium-sized enterprises (SMEs) in the fast-moving consumer goods (FMCG) sector – limited access to working capital. Through its mobile app, Sevi enables retailers to purchase inventory on credit with a one-week repayment plan, while suppliers such as Coca-Cola, Anytime, and Philmed benefit from immediate upfront payments for their goods.
Walter aan de Wiel, Co-founder of Sevi, expressed the company’s mission to support wholesalers and retailers by providing the working capital needed to scale their businesses. With Sevi’s app, retailers can access inventory on credit with flexible repayment terms, allowing them to focus on growth, while suppliers enjoy the advantage of immediate payments.
Utilizing artificial intelligence (AI) and machine learning, Sevi streamlines its credit assessment processes, reducing risks and facilitating smooth credit transactions among suppliers, retailers, and financial institutions. Renew Capital, an impact investment firm specializing in Africa, recognized Sevi as a game-changer in the FMCG industry.
Calvin Chitangala, Investment and Project Manager at Renew Capital, highlighted Sevi’s role in addressing a vital working capital challenge in the FMCG sector. The funding from Renew Capital will enable Sevi to enhance its technological infrastructure, expand its supplier and retailer network, and promote financial inclusion for SMEs across Kenya.
Renew Capital’s support, backed by its partnership with Global Affairs Canada, underscores a commitment to sustainable social impact alongside financial growth. This investment in Sevi is aligned with Renew Capital’s history of backing high-potential African startups, including Konnect from Tunisia, Agenz from Morocco, ChipChip from Ethiopia, and BuuPass from Kenya.
Established in 2018 by Walter aan de Wiel and Bartel Verkruijssen, Sevi offers an intuitive mobile app for sales agents and customers, simplifying access to credit for stock purchases, streamlining repayments, and supporting business growth. Leveraging advanced AI and machine learning, Sevi delivers accurate credit assessments, enhancing trust and efficiency throughout the supply chain.
Renew Capital, an Africa-focused impact investment firm, is dedicated to driving economic growth and social change. Supported by a network of angel investors, foundations, and family offices, the firm invests in innovative businesses with high potential for financial success and social impact.
Renew Capital’s recent investment in Sevi underscores its commitment to bridging key market gaps and fostering sustainable growth for businesses across Africa. This partnership signifies a significant step towards advancing financial inclusion and supporting SMEs in the region.
(Source: https://launchbaseafrica.com/2025/01/22/renew-capital-investment-series-kenyas-sevi-secures-funding-to-bolster-stock-financing-for-retailers)
