Cordia Directions Secures $11M to Expand PeachCars in Kenya
Deal News | Jun 24, 2025 | Aim Group
Cordia Directions, the Tokyo-based parent company of Kenya's PeachCars.co.ke, has raised JPY1.5 billion ($11 million USD) in a Series A funding round to expand its automotive marketplace. Led by Suzuki Global Ventures and participated in by Japan Bank for International Cooperation, Gogin Capital, and University of Tokyo Edge Capital Partners. This funding round signals strong expectations for PeachCars' customer-centric technology model adapted for the African car market. Founded in 2020, PeachCars operates through its Kenyan subsidiary, Peach Tech Limited, offering a peer-to-peer marketplace for used cars in Kenya, providing services like inspections, financing, logistics, and after-sales support. With the new funding, PeachCars aims to scale operations beyond Nairobi, enhance its team, and introduce new services. Despite not disclosing revenue, the company reported an operating loss of JPY42.2 million ($292,000) for 2024.
Sectors
- Automotive Marketplace
- Private Equity and Venture Capital
- E-commerce and Online Services
Geography
- Kenya – The primary market for PeachCars is based in Kenya, with expansion plans focused on urban areas outside Nairobi.
- Japan – Cordia Directions and its investors, including Suzuki Global Ventures and the Japan Bank for International Cooperation, are based in Japan.
Industry
- Automotive Marketplace – The article centers around PeachCars, a significant player in the used-car marketplace, indicating relevance to the automotive marketplace industry.
- Private Equity and Venture Capital – The involvement of investors like Suzuki Global Ventures, University of Tokyo Edge Capital Partners, and others in the funding round highlights the relevance of the Private Equity and Venture Capital sector.
- E-commerce and Online Services – PeachCars' use of online platforms and technology to facilitate vehicle sales places it in the E-commerce and Online Services industry.
Financials
- $11 million – The total amount raised by Cordia Directions in a Series A funding round for PeachCars.
- $292,000 – The operating loss reported by Cordia Directions for 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cordia Directions | Parent Company | Company | A Tokyo-based company that owns PeachCars. |
| PeachCars | Target Company | Company | A Kenya-based automotive marketplace connecting buyers and sellers of used vehicles. |
| Suzuki Global Ventures | Lead Investor | Company | Led the Series A funding round for PeachCars. |
| Japan Bank for International Cooperation | Investor | Company | Participated in PeachCars' Series A funding round. |
| Gogin Capital | Investor | Company | Participated in PeachCars' Series A funding round. |
| University of Tokyo Edge Capital Partners | Investor | Company | Participated in PeachCars' Series A funding round and led their previous seed round. |
| Kaoru Kaganoi | CEO and Co-founder | Person | CEO and co-founder of PeachCars, providing insights into the company's vision and strategy. |
| Zachary Petroni | COO and Co-founder | Person | COO and co-founder of PeachCars, emphasizing the company's operational strategies. |