NAIROBI, Kenya, Dec. 9, 2021 /PRNewswire-PRWeb/ -- Enda, Africa's first high-performance brand of running shoes, announced its successful Series A debt and equity funding round on Dec. 2, securing $1.1 million in funds. The funding round included several Kenyan angel investors and was led by Talanton, a U.S. based impact investment fund focused on values aligned scale-up businesses in developing countries.
Enda surpassed its initial goal of raising $650,000 to expand its product lines and distribution. The brand has demonstrated a successful business model with a strong potential for continued growth and revenue.
"We are thrilled about this investment,'' said Iris Wen, a partner at Talanton. "Enda is perfectly aligned with our mission of investing in companies that create high-quality jobs, especially in places where these jobs have the most impact by creating opportunity and reducing poverty. That they're able to do this while satisfying customers around the world means they're poised for growth and making a real difference in the world."
Kenyan athletes are known for being the best runners globally, yet the country benefits relatively little from this reputation. Enda hopes to close the gap by inspiring athletes to connect to the country's rich running heritage and provide shoes and apparel that help everyone worldwide Run Kenyan.
"We've been working hard to fulfill orders as thousands of people around the world are discovering our shoes. It is an exciting time for our company," said Enda co-founder and CEO Navalayo Osembo. "This is our moment to invest in further growth and help even more people Run Kenyan in 2022."
This funding also allows Enda to partner with East African Breweries Limited (EABL) to create a locally-sourced running-inspired sneaker called Mwanzo. The new casual shoe is 80% sourced from Kenya and marks a significant step in Enda's efforts to accelerate manufacturing and industrialization in the country.
For more information, visit https://www.endasportswear.com.
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About Enda:
Enda is the first shoe brand proudly made in Kenya. The brand helps you Run Kenyan while you give back to the country. The shoes are designed to give you the most from each workout and see your running improve consistently. The bottom line - Enda shoes are built for dancing on any terrain.
About Talanton:
Talanton is a values-driven private impact investment fund that believes creating jobs through businesses is the best way to help people lift themselves out of poverty. Visit Talanton's website at http://www.talantonllc.com to learn how together, we can create jobs, bring hope and transform many thousands of lives in East Africa.
Media Contact
Sydney Bennett, Enda, (573)7957981, [email protected]
Leah Cybulski, Enda, (708)4268730, [email protected]
SOURCE Enda
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