In a funding round led by Kukula Capital and eVentures Africa Fund, a leading Dutch venture capital; Zambia e-commerce giant Dotcom, has raised $500,000.
The company plans to use the funds to grow its existing e-commerce business, and also roll out its proprietary digital bus ticketing system in Zambia. Also included in Dotcom’s plan, is to launch in other Southern African countries. The fund, which is a combination of debt and equity, will also help the company to leverage on both VC’s networks.
Speaking on the new development, Dotcom Zambia’s Chief Executive Officer Mawrano Kambeu said: “This is the ultimate dream come true for any entrepreneur, with eVA and Kukula on board, Dot Com Zambia has the expertise and financial muscle that will allow us to enhance our operations and grow faster to create value for our clients and the Zambian economy.”
Dotcom Zambia was founded in 2009, and has significantly grown to become one of the country’s fastest growing e-commerce companies. The company’s bus ticketing system was named after Africa’s Best New Venture for 2015 by Harvard Business School. The company’s two main subsidiaries are Import Zambia and Book Now Zambia.
Customers are able to reserve, pay and receive bus tickets through the company’s technological platform.