Jabu has raised US$3.2-million from investors led by Afore Capital with participation from other investors including Y Combinator, Pareto Capital, Quiet Capital, Kli Capital and FJ Labs. Jabu is a business-to-business e-commerce startup that is powering the way in which shop-owners order, source and stock their products as well as executing the last-mile of distribution for FMCG brands in Namibia. The stake acquired was not disclosed.
Afore Capital is a venture capital investor that is able to invest in as early as pre-seed startups. The US$124-million fund is well sized to take various venture capital opportunities. The firm has invested in 1Build, Andrena, Bench SCI, Boxbot, Bulletin, Catch Social, CivilGrid, Devron, Factor, Fleetpanda, FlyP, Goldcast, Healthnote, Honeybee and Till Financial among many others.
Y Combinator is global VC firm that provides seed funding for startups to get startups through the first phase to build a business impressive enough to raise money on a larger scale and typically introduces the startups to later stage investors. Y Combinator invested in well-known startups such as Doordash, Dropbox, Airbnb, GitLab, Flexport, Instacart, Coinbase, Reddit and Stripe among many others. Y Combinator has 18 companies in its portfolio that are valued at over US$1-billion and has raised over US$25-billion from investors.