Kenyan startup MarketForce, has announced that it is shuttering its B2B eCommerce platform, RejaReja, and unveiling its latest venture, Chpter, a social commerce platform.
MarketForce’s decision to close RejaReja is due to challenges in the retail fast-moving consumer goods market, which led to struggles with profitability. Despite attempts to salvage RejaReja, including reducing its workforce, the company is now raising $1 million through the crowdfunding platform Capitalize.
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MarketForce’s CEO, Tesh Mbaabu, announced the launch of Chpter, an AI-powered conversational commerce platform that helps merchants increase revenue through social media. Chpter is operational in Kenya and South Africa, offering features such as automating conversations, marketing, and payments on platforms like WhatsApp and Instagram.
MarketForce, initially a SaaS company catering to large FMCGs and financial institutions, had encountered hurdles such as slow growth and prolonged sales cycles. Despite receiving significant investments, including a Series A round of $40 million in 2022, MarketForce pivoted to eCommerce with RejaReja, expanding its operations across five African countries. However, the challenges persisted, leading MarketForce to explore a new direction with Chpter.
MarketForce’s journey underscores the iterative nature of entrepreneurship, where adaptation and resilience are essential for long-term success.
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