Sevi, a fintech company regulated by the Central Bank of Kenya, is revolutionizing stock financing for wholesalers and retailers through its “stock now, pay later” platform. Sevi addresses the challenge of insufficient working capital by providing users with access to credit while ensuring suppliers are paid upfront.
With Sevi, suppliers like Coca-Cola, Anytime and Philmed receive direct payments for their products, and retailers can order stock on credit, enabling them to grow their businesses. The app utilizes AI and machine learning to enhance its credit evaluation process, offering a seamless, reliable solution for credit transactions between suppliers, retailers and credit funds.
“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.”
Operating on a one-week credit cycle, Sevi’s innovative approach reduces friction in the supply chain, enabling smoother transactions and increased efficiency for both retailers and suppliers.
“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.”
With Renew Capital’s investment, Sevi plans to enhance its platform’s capabilities, grow its network of suppliers and retailers and continue driving financial inclusion for wholesalers and retailers.
Also Read: MoneyHash Secures $5.2M Pre-A Funding