Kenya has become a hotspot for innovation and entrepreneurial spirit.
Many companies are experiencing rapid growth and transforming their respective industries. These businesses contribute significantly to Kenya’s economic development.
This blog post explores some of the fastest-growing companies in Kenya in 2024. We’ll break down complex terms and provide detailed overviews.
1) Wasoko: transforming retail in Africa
![9 Fast Growing Businesses in Kenya 2024 1 Fastest growing businesses in Kenya Wasoko](https://money.ke/wp-content/uploads/2024/06/fastest-growing-businesses-in-kenya-wasoko.webp)
Wasoko, formerly Sokowatch, has revolutionized retail in Kenya. It provides a digital platform for small shop owners to stock their stores.
Retailers can order goods through the Wasoko app with free same-day delivery. Wasoko also offers credit facilities. This helps shop owners manage their inventory better.
Key features of Wasoko:
- Digital platform: Retailers order goods online.
- Same-day delivery: Ensures timely stocking of stores.
- Credit facilities: Offers customized credit to retailers.
Wasoko’s revenue grew impressively from $0.3 million in 2017 to $27.4 million in 2020. In 2022, they raised $125 million in Series B funding. This helped expand their operations across Africa.
Learn more about Wasoko.
2) Flocash: leading in fintech solutions
![9 Fast Growing Businesses in Kenya 2024 2 Fastest growing businesses in Kenya Flocash](https://money.ke/wp-content/uploads/2024/06/fastest-growing-businesses-in-kenya-flocash.webp)
Flocash is a fintech company that enables global and cross-border payments. It supports over 200 payment methods in 60 countries. This makes international transactions easy and secure.
Key features of Flocash:
- Multiple payment methods: Supports over 200 options.
- Global reach: Operates in 60 countries.
- Seamless transactions: Facilitates easy international payments.
Between 2017 and 2020, Flocash’s revenue grew from $0.1 million to $6.4 million.
Visit Flocash for more details.
3) Victory Farms: advancing aquaculture
![9 Fast Growing Businesses in Kenya 2024 3 Victory Farms Fast growing companies in Kenya](https://money.ke/wp-content/uploads/2024/06/victory-farms-fast-growing-companies-in-kenya.webp)
Victory Farms specializes in sustainable fish farming. They have expanded into Rwanda, Tanzania, and the Democratic Republic of Congo. Victory Farms raised $5 million in equity funding in 2022. Their revenue grew from $2.8 million in 2018 to $17.3 million in 2021.
Key features of Victory Farms:
- Sustainable practices: Focuses on environmentally friendly fish farming.
- Regional expansion: Operates in multiple African countries.
- Significant growth: Achieved substantial revenue increases.
Learn more about Victory Farms.
4) Lori Systems: revolutionizing logistics
![9 Fast Growing Businesses in Kenya 2024 4 Lori Systems Growing Company](https://money.ke/wp-content/uploads/2024/06/lori-systems-growing-company.webp)
Lori Systems is an e-logistics platform that enhances cargo transportation. It aims to streamline supply chains in frontier markets. This makes transportation more effective and affordable.
Key features of Lori Systems:
- E-logistics platform: Optimizes cargo transportation.
- Efficient supply chains: Improves logistics in frontier markets.
- High growth rate: Significant expansion in recent years.
Lori Systems has grown significantly, with an absolute growth rate of 762.3%.
For more information, visit Lori Systems.
5) BasiGo: electrifying public transport
![9 Fast Growing Businesses in Kenya 2024 5 Fastest growing businesses in Kenya Basi Go](https://money.ke/wp-content/uploads/2024/06/fastest-growing-businesses-in-kenya-basi-go.webp)
BasiGo is transforming public transportation with electric buses. Founded in 2021, the company focuses on affordable and eco-friendly transport. BasiGo has piloted electric bus schemes and raised $6.6 million in funding.
Key features of BasiGo:
- Electric buses: Promotes eco-friendly public transport.
- Affordable solutions: Makes transportation accessible.
- Funding success: Raised significant capital for expansion.
Discover more about BasiGo.
6) Zuri Health: improving healthcare accessibility
![9 Fast Growing Businesses in Kenya 2024 6 Zuri Health Company](https://money.ke/wp-content/uploads/2024/06/zuri-health-company.webp)
Zuri Health offers telehealth solutions, making medical support accessible. Founded in 2020, the startup has raised $1.5 million across multiple funding rounds.
Key features of Zuri Health:
- Telehealth services: Provides online medical consultations.
- Accessible healthcare: Ensures broader access to medical support.
- Funding rounds: Secured investments to grow its services.
For more information, visit Zuri Health.
7) Ilara Health: enhancing primary care
![9 Fast Growing Businesses in Kenya 2024 7 Ilara Health Company Website](https://money.ke/wp-content/uploads/2024/06/ilara-health-company-website.webp)
Ilara Health aims to bridge the gap in primary healthcare by establishing affordable clinics. Founded in 2019, the company offers essential health services at lower costs.
Key features of Ilara Health:
- Affordable clinics: Provides low-cost health services.
- Network expansion: Continuously grows its clinic network.
- Significant funding: Raised capital to enhance healthcare delivery.
Ilara Health raised $3.75 million in December 2022.
Learn more about Ilara Health.
8) Watu Credit: financing mobility
![9 Fast Growing Businesses in Kenya 2024 8 Watu Credit company website](https://money.ke/wp-content/uploads/2024/06/watu-credit-company-website.webp)
Watu Credit provides financing for two and three-wheel vehicles. This enhances mobility and financial independence. The company has raised $7 million to support its expansion into Uganda.
Key features of Watu Credit:
- Vehicle financing: Offers loans for two and three-wheel vehicles.
- Mobility solutions: Enhances transportation options.
- Expansion plans: Growing its presence in East Africa.
Visit Watu Credit for more details.
9) Solar Panda: promoting renewable energy
![9 Fast Growing Businesses in Kenya 2024 9 Solar Panda company website fastest growing companies](https://money.ke/wp-content/uploads/2024/06/solar-panda-company-website-fastest-growing-companies.webp)
Solar Panda installs solar panels in rural areas. They provide communities with affordable and sustainable electricity. Founded in 2017, the company operates on a pay-as-you-go model.
Key features of Solar Panda:
- Solar energy: Promotes renewable energy solutions.
- Pay-as-you-go model: Makes electricity affordable.
- Significant funding: Secured investments for growth.
Solar Panda raised $15 million across several funding rounds.
For more information, visit Solar Panda.