Kenya-based B2B e-commerce startup, Zumi, has closed its doors due to its inability to secure sufficient funding to keep the business operational. The shutdown has resulted in the layoff of its team of 150 employees, who have experience working at companies such as Amazon, SpaceX, Twiga, and Jumia. Zumi initially started in 2016 as a digital magazine but shut down soon after announcing its plans to pivot to e-commerce. In 2020, the company re-entered the market as a B2B e-commerce company focusing on the apparel market, providing a platform for retailers and suppliers to sell and purchase goods. The company received funding from Masha Ventures and other investors, and before its closure, achieved over $20m in sales and acquired 5,000 customers. The CEO and co-founder, William McCarren, cited difficulties with fundraising as the reason for the company's closure.

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