Kenyan startup Lynk, which connects informal artisans with customers, has raised a new round of funding as it looks to move into new markets and expand its B2B products.
It has now secured a round of funding led by Lateral Capital, and featuring local and international family offices and funds such as the Cornerstone Group, which Lynk co-founder Johannes Degn told Disrupt Africa would be used to help it expand its operational footprint, grow its team and improve its B2B offering.
“It will almost exclusively be for salaries as we are hiring a more senior team. We are growing our commercial presence in Nairobi. Our ability to grow market size in Nairobi is the remaining proof point before expanding to second market. We have budgeted a good amount for marketing activities,” Degn said.
Though the amount raised is undisclosed, it is larger than Lynk’s combined total of previous funding, which was a US$1.3 million seed round and US$500,000 in grant money. So far, the Lynk platform has facilitated more than 31,000 jobs and over 100 construction projects.