Wasoko Raises $125M Series B Financing
Gunderson Dettmer represented client Wasoko in the announcement of its rebrand from Sokowatch and the closing of its $125 million Series B financing co-led by Tiger Global and Avenir. Wasoko provides an on-demand inventory service platform that allows retailers from Africa-based countries to order products from suppliers via SMS or its mobile app for same-day delivery to their stores and shops through a network of logistics drivers. The new capital will help the company expand across the continent, scale hiring, and expand its product-offerings.
In the announcement of the transaction, founder and CEO of Sokowatch Daniel Yu said, “Sokowatch started as this kind of backend brand. We wanted a brand that could be more front and center for the African retailer and easily pronounced across all markets while reflecting our East African roots. So that’s why we’ve rebranded now to Wasoko, meaning ‘people of the market.’”
The Gunderson deal team was led by corporate partner Bradley Krack and included corporate and securities associates Amy Luong and Micaela Cervantes, tax partner Lily Kim and tax associate Tina Xu, and IP associates Jie Wang and Jamilah Mena.