In the constantly changing world of entrepreneurship, there are innovators who use technology to push the limits and transform traditional industries.
Joseph Rutakangwa is one such visionary, a Tanzanian tech entrepreneur who is revolutionizing the market intelligence sector.
Through his groundbreaking startup, Rwazi, Rutakangwa is empowering global brands to unlock the immense potential of emerging markets in Africa, Asia, and South America.
With a recent $4-million seed round led by Bonfire Ventures, Rwazi is poised to revolutionize how companies access vital market insights and drive revenue growth.
Rutakangwa’s career began at Pernod Ricard, a global powerhouse in the wine and spirits industry.
Starting as a trade marketing associate, Rutakangwa quickly climbed the ranks, acquiring invaluable industry knowledge along the way.
However, his ambition led him to explore new horizons, and he embarked on a path as an independent business intelligence and analytics consultant driven by a passion for leveraging data to uncover market trends and consumer behavior.
Rwazi’s journey under Joseph Rutakangwa, a paradigm shift in market intelligence
In December 2018, Rutakangwa launched Rwazi, a market intelligence platform that disrupts the status quo.
Rwazi’s innovative approach revolves around a network of over 50,000 highly skilled mappers across 60 African and South Asian nations, meticulously collecting data from a staggering 1.4 million outlets.
This expansive reach allows Rwazi to provide multinational companies with valuable insights on who is buying what, for how much, from where, when, and why—crucial information for driving revenue and expansion strategies.
At the heart of Rwazi’s success lies its unique business model.
Under the leadership of the visionary Tanzanian tech entrepreneur, the startup’s app harnesses the power of crowdsourcing, enlisting on-the-ground consumers to share information about their purchases across sectors such as finance, telecom, healthcare, and consumer goods. In return, consumers are rewarded for their valuable contributions.
The startup’s game-changing platform quickly captured the attention of global brands and multinational corporations hungry for accurate and actionable market insights.
As a result, Rwazi recently secured a significant milestone – a $4-million seed round led by Bonfire Ventures, a prominent early-stage venture capital firm specializing in B2B software companies.
Rwazi to unleash investors’ $4 million for Expansion in Africa, South Asia, and Latin America
With the $4-million seed round, Rwazi’s total funding since its inception soared to an impressive $7.8 million. The capital injection will serve as a springboard for the company’s ambitious expansion plans.
Rwazi aims to extend its reach even further in emerging markets, primarily focusing on Africa, South Asia, and select regions of Latin America.
The funding will enable Rwazi to scale its operations, improve its data collection infrastructure, and enhance its customer dashboard to provide even more actionable insights.
Rutakangwa’s entrepreneurial journey and the success of Rwazi highlight the transformative power of technology in challenging conventional market intelligence.
Through innovative approaches like crowdsourcing and an extensive network of data collectors, Rwazi enables global brands to tap into the vast potential of emerging markets.
