Kenyan fintech startup Sevi, which is transforming stock financing for wholesalers and retailers through its innovative “stock now, pay later” platform, has secured an undisclosed amount of funding from Renew Capital to fuel its growth and expansion.
Founded in 2018, Sevi tackles the challenge of limited working capital by offering retailers access to credit while ensuring suppliers are paid upfront. Through its intuitive smartphone app, sales agents and customers can seamlessly place and pay for orders using Sevi’s credit platform.
Sevi’s model benefits both suppliers and retailers: major suppliers like Coca-Cola, Anytime, and Philmed receive direct payments for their products, while retailers can order stock on credit, allowing them to scale their operations. The platform leverages AI and machine learning to enhance its credit evaluation process, ensuring secure and reliable transactions across the supply chain.
“Our mission is to empower wholesalers and retailers by providing them with the working capital they need to grow their shops,” said Walter aan de Wiel, founder of Sevi. “With our app, retailers can access stock on credit, repay easily, and focus on expanding their businesses, while suppliers benefit from upfront payments.”
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Sevi operates on a one-week credit cycle, reducing friction in the supply chain and improving efficiency for all parties involved. By addressing the working capital gap, the platform is enabling retailers to thrive in a competitive market while ensuring suppliers maintain consistent cash flow.
The recent investment from Renew Capital, an Africa-focused impact investment firm, will enable Sevi to enhance its platform, expand its network of suppliers and retailers, and continue driving financial inclusion in the fast-moving consumer goods (FMCG) sector.
“Sevi is solving a critical working capital gap in the FMCG sector,” said Calvin Chitangala, investment and project manager at Renew Capital. “Their platform makes stock financing more accessible and efficient, empowering businesses to grow faster.”
This funding empowers Sevi to scale its impact, enabling wholesalers and retailers in Kenya and beyond to access vital resources, grow their businesses, and strengthen supply chains.
