Bwala secures private investor funding, in talks with VCs to raise $5mn

Related article: Bwala set for expansion with CFC Stanbic financing

Logistics company Bwala Africa has reportedly secured funding from Silicon Valley investor Justin Caldbeck to support the firm with its expansion into Uganda. A seasoned investor, Caldbeck has backed a number of companies such as Snapchat, Uber and Opendoor; and the investment in Bwala Africa is reportedly his first on the continent.

This investment follows an announcement in September last year that Bwala Africa Group had secured USD 99,000 (KES 10mn) in financing from Stanbic Bank to expand its fleet.