Sevi, a Kenyan fintech company regulated by the Central Bank of Kenya, has announced a new round of investment from Renew Capital. The funding marks another step forward in Sevi’s mission to revolutionize stock financing for wholesalers and retailers through its innovative “stock now, pay later” platform.
Sevi’s platform tackles a persistent challenge faced by small and medium-sized enterprises (SMEs) in the fast-moving consumer goods (FMCG) sector: inadequate working capital. Through its mobile app, Sevi enables retailers to order inventory on credit, with repayment structured on a one-week cycle. Simultaneously, suppliers such as Coca-Cola, Anytime, and Philmed receive direct, upfront payments for their products.
“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, co-founder of Sevi. “With our app, retailers can access stock on credit, repay easily, and focus on expanding their businesses, while suppliers benefit from prompt payments.”
To achieve this, Sevi leverages artificial intelligence (AI) and machine learning technologies to enhance its credit evaluation processes. By integrating data-driven insights, the platform minimizes risks and ensures seamless credit transactions between suppliers, retailers, and credit providers.
Renew Capital, an Africa-focused impact investment firm, identified Sevi as a transformative force in the 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.”
The investment will allow Sevi to further develop its technological infrastructure, expand its network of suppliers and retailers, and enhance financial inclusion for SMEs across Kenya. Renew Capital’s support for its portfolio companies is bolstered by its partnership with Global Affairs Canada, emphasizing sustainable social impact alongside financial returns.
Sevi’s funding adds to Renew Capital’s track record of backing high-growth African startups. The firm’s portfolio includes companies such as Tunisia’s Konnect, Morocco’s Agenz, Ethiopia’s ChipChip, Kenya’s BuuPass, and others. Renew Capital’s approach combines financial investment with operational support, aiming to drive sustainable growth across its investments.
Founded in 2018 by Walter aan de Wiel and Bartel Verkruijssen, Sevi provides a user-friendly mobile app tailored for sales agents and customers. The platform enables users to access credit for stock purchases, repay conveniently, and focus on scaling their businesses. By integrating advanced AI and machine learning, Sevi ensures efficient and reliable credit evaluations, fostering trust and efficiency across the supply chain.
Renew Capital is an impact investment firm focused on Africa. Through its network of angel investors, foundations, and family offices — known as Renew Capital Angels — the firm supports innovative companies with the potential for significant financial and social returns. Renew Capital’s investments span diverse sectors, reflecting its commitment to fostering entrepreneurship and economic development across the continent.
With its latest investment in Sevi, Renew Capital continues to champion solutions that address critical market gaps while driving sustainable growth for African businesses.