Nairobi-based Peach Tech, the innovative force behind Peach Cars, a digital marketplace revolutionising used car transactions in Africa, has raised $11 million in a Series A funding round.
Led by Suzuki Global Ventures (SGV), the venture arm of Suzuki Motor Corporation, the round signals strong confidence in Peach’s mission to build trusted infrastructure for car ownership across the continent.
Strategic Global Backing Fuels Expansion
The funding round attracted a powerful consortium of investors, including Japan Bank for International Cooperation (JBIC), The Gogin Capital Co., Ltd., and returning investor UTEC (The University of Tokyo Edge Capital Partners), which made a super pro-rata investment.
This diverse group brings automotive expertise, marketplace innovation, and long-term infrastructure capital to support Peach’s growth.
“Suzuki is inspired by Peach’s customer-first philosophy, which mirrors our values,” said Mike Sarchet, Senior Director at Suzuki Global Ventures.
“Africa is our next frontier after India, and Peach is building the transparent, scalable secondary-car market essential for our growth. We’re proud to lead this round.”
JBIC, marking its first African startup investment, sees Peach as a high-impact opportunity.
“Africa’s economic growth and rising population make it a region of significant potential,” a JBIC representative stated. “Peach’s high-integrity model can transform trust in the mobility ecosystem.”
UTEC reaffirmed its commitment, with Principal Kiran Mysore noting, “Peach’s blend of technology and operational excellence has achieved market leadership in Kenya’s online used-car ecosystem. We’re thrilled to deepen our investment alongside strategic partners.”
Scaling Trust and Innovation
Peach Cars is more than a marketplace; it’s a tech-driven platform addressing trust, transparency, and access in Africa’s used car economy.
Offering real-time vehicle appraisals, vetted inspections, financing, and after-sale support, Peach streamlines the ownership journey.
With the new capital, Peach plans to:
- Expand nationwide in Kenya, reaching underserved counties beyond Nairobi.
- Lay the groundwork for regional expansion into East and Sub-Saharan Africa.
- Grow product and engineering teams to enhance platform digitisation and R&D.
- Open new service and inspection centers to ensure vehicle quality.
- Launch verticals for genuine parts procurement, logistics, and deeper financing options.
“For most Africans, buying a car is a major life event,” said Kaoru Kaganoi, founder and CEO of Peach. “This raise is a vote of confidence in a customer-first, tech-enabled model built for long-term trust.”
Seizing Africa’s Mobility Moment
With Africa’s vehicle market projected to more than double by 2030, Peach is tackling persistent challenges like unclear pricing, limited financing, and low trust in fragmented offline systems. Its grounded, tech-enabled approach combines local insight with global best practices.
“We’re designing a system that scales trust as much as transactions,” said Zachary Petroni, COO and Co-founder. “This funding allows us to deepen our commitment to customers and drive innovation.”
Kaganoi added, “This is the next era of African tech: disciplined, customer-centric, and built to endure with patient capital and investors who value operational excellence.”
The $11 million raise positions Peach Tech to redefine Africa’s mobility landscape, delivering value to customers and investors alike.
