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US-based start-up, Elloe, plans investment in Kenya

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A United States-based ecommerce start-up, Elloe, has closed an undisclosed amount to fund its investment plan in Kenya.

The Chief Executive Officer of Elloe, Owen Sakawa, disclosed this in a social media post on Friday.

The round was led by Philippines’ Mad Ventures Inc., with participation from other anonymous investors.

READ ALSO: Six Nigerian start-ups strike N15.6bn deals In January

According to Sakawa, the funding will support Micro, Small and Medium Enterprises in Kenya and fuel expansion into Southeast Asian and African markets in 2023.

He described the start-up’s team as digital ambassadors in Kenya.

He said: “We are very excited and humbled by the opportunity to partner with Mad Ventures Inc. and join its growing livelihood ecosystem as digital ambassadors to local Kenyan entrepreneurs and netizens.”

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