Rwazi raised $4 million in a seed round led by Bonfire Ventures

Rwazi, a startup that provides market intelligence to help understand consumers in emerging markets, has raised $4 million in a seed round led by Bonfire Ventures. The company plans to use the funds to expand its presence in emerging markets like Africa and South Asia. Rwazi's business model relies on a consumer network that provides insights across industries by crowdsourcing data collection through an app, working with on-the-ground consumers who are paid for sharing details about the products they buy. Rwazi has already built a network of 50,000 local consumers across Africa who provide paying subscribers, including Fortune 500 global brands, with valuable insight. With this fresh capital, Rwazi hopes to capture a larger share of the expanding big data analytics market and position itself as a market leader. The company has already raised a total of $7.8 million, including participation from Newfund Capital and Alumni Ventures. Bonfire Ventures' principal, Jennifer Richard, praised Rwazi's founders, expressing confidence in the company's ability to execute a logistically challenging operation in a vast market.