Online vehicle marketplace Peach Cars has secured Sh517.6 million in debt financing from two Japanese financial institutions to expand its operations in Kenya.
The Deal
Japan Finance Corporation and Shoko Chukin Bank provided the financing, which adds to the Sh1.42 billion Series A round Peach Cars closed in June 2025, one of the largest Series A rounds raised in Africa’s mobility sector.
The company said the new funds will expand its vehicle inspection capacity, grow access to vehicle financing, and strengthen its online marketplace, which currently lists more than 1,500 vehicles.
Why a Japanese Bank Visited Nairobi First
Before approving the facility, Shoko Chukin Bank conducted due diligence that included management interviews and a visit to Peach Cars’ Nairobi operations to assess its vehicle inspection system. The bank said the visit showed Peach Cars was providing a new form of trust to the Kenyan market through vehicle quality standards modeled on Japanese practice.
A Second Round From the Same Investor Circle
The debt round follows Peach Tech’s 11 million dollar Series A raise in June 2025, led by Suzuki Global Ventures, the venture arm of Suzuki Motor Corporation. Japan Bank for International Cooperation, Gogin Capital and returning investor UTEC, the University of Tokyo’s venture arm, also participated in that round.
Suzuki Global Ventures Senior Director Mike Sarchet said at the time that Suzuki was drawn to Peach’s customer first approach to the used car market. Peach founder and CEO Kaoru Kaganoi said the raise reflected investor confidence in a long term, trust based model for vehicle ownership in Africa.
Building Financing Access for Buyers
Peach Cars has also worked to expand financing access for buyers. In 2024, the company partnered with Umba Microfinance Bank to offer vehicle financing of up to 70 percent of a car’s value, with approval available within 24 hours. Peach Cars co-founder and COO Zach Petroni said the partnership was designed to make car ownership more accessible to Kenyans.
What’s Next for Peach Cars
Following its 2025 Series A raise, Peach Cars said it planned to expand nationwide into counties beyond Nairobi, lay groundwork for regional expansion into East and Sub-Saharan Africa, grow its engineering and product teams, and open new inspection centers.
Africa’s vehicle market is projected to more than double by 2030, according to figures cited by the company.
