Hot startup of the month: Kenya's eBiashara

The African digital landscape is ever evolving. Therefore, to keep up with the changing climate, many startups pivot and expand their offering to impact more customers.

That is the story of Kenya's eBiashara, a supply chain finance platform that has expanded to offer scalable cloud solutions to its customers.

"We are a tech startup specializing in addressing key supply chain challenges, including capital access, operational efficiency and payments through innovative cloud-based technology solutions," eBiashara CEO Baiju Shah told Connecting Africa in an interview.

"We are AWS partners and are leveraging our expertise in delivering resilient and scalable cloud solutions to our clients. Additionally, our commitment extends to Microsoft products, further enhancing our cloud services," he explained.

Shah said that whether optimizing infrastructure, deploying cloud-based applications, or ensuring secure data management, eBiashara's approach harnesses the capabilities of both AWS and Microsoft to provide cutting-edge cloud solutions.

"In addition to our finance platform, we provide a suite of technology solutions, infrastructure, and IT resources. These offerings empower businesses across sectors to run their operations with maximum efficiency," the eBiashara CEO explained.

eBiashara's inner workings

Established in 2014, the Kenyan startup has expanded from offering a supply chain platform and payment gateway to cloud computing, cyber security, business intelligence, analytics solutions and e-commerce, just to name a few.

eBiashara digitally connects suppliers, distributors, buyers and financial institutions.

"Participants in the supply chain are onboarded onto the platform by the financier and can request funding by uploading trade documents like invoices via the web or mobile," he said.

"Furthermore, participants can track the progress of transactions and monitor the status of financing requests through the platform," he continued.

eBiashara specializes in addressing supply chain challenges, including capital access, operational efficiency and payments through cloud-based technology solutions. (Source: eBiashara).

He said eBiashara often utilizes a mechanism called reverse factoring, where the creditworthiness of the buyer is leveraged to secure favorable financing terms for suppliers.

In doing that, it enables suppliers to secure capital at more favorable rates than they could obtain independently, thereby improving overall supply chain liquidity and efficiency.

He added that to optimize business operations and make the most of working capital, eBiashara enhanced its solution with a comprehensive suite.

Shah said that the company's primary goal is to empower businesses globally with cutting-edge technology solutions that drive innovation, growth and success.

Startup funding

Shah said eBiashara is self-funded and it has done well to remain debt-free, something that has been helped by securing contracts with major corporations in East Africa.

"We generate revenue through several channels. Our primary source is through the sale of our products/services to customers. We've designed our pricing strategy to be competitive in the market while ensuring sustainability," he added.

The CEO said that as the company continues to grow, it may explore future rounds of funding to fuel product development, market expansion and talent acquisition.

"While our current focus is on optimizing operations and achieving profitability, strategic funding may be considered for scaling our impact and reaching new milestones," he continued.

eBiashara's expansion plans

Currently eBiashara operates through its offices in Kenya and India; however, it also does business across Egypt, Nigeria, Zambia, Malawi, Tanzania, Rwanda, the US and the UK.

"We are actively exploring opportunities to expand our presence both regionally and internationally," he explained.

"We firmly believe that venturing into new markets and demographics is not only crucial for business growth but also integral to fulfilling our overarching mission of making a meaningful impact on the world through transformative technology," he reflected.

The company also plans to set up a research and development (R&D) center in India, together with an operating office out of the UAE for expanding its services in the Middle East and North African markets.

Kenya's regulatory framework

Kenya's Startup Bill will soon come into effect and Shah believes the bill will play a crucial role in the company's dealings.

"No matter how the bill is set up, we will work with it, we'll prioritize compliance, adapt to regulatory changes swiftly, and explore new opportunities it presents," he added.

"Our goal is to strategically align with the bill to ensure eBiashara's continued success in the evolving business environment," he explained.

Other companies offer similar services to what eBiashara does, but Shah said that what sets it apart is that it uses advanced algorithms and the latest technology to deliver unparalleled innovation.

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*Top image is of eBiashara CEO Baiju Shah. (Source: eBiashara.)

— Matshepo Sehloho, Associate Editor, Connecting Africa