Online vehicle marketplace Peach Cars has secured Sh517.6 million in debt financing from two Japanese financial institutions to support the expansion of its operations in Kenya.
The funding was provided by the Japan Finance Corporation (JFC) and Shoko Chukin Bank, adding to the company’s Sh1.42 billion Series A funding raised in June 2025, one of the largest Series A investment rounds in Africa’s mobility sector.
Peach Cars said the new financing will be used to expand its vehicle inspection capacity, improve access to vehicle financing and strengthen its online marketplace, which currently lists more than 1,500 vehicles.
Before approving the financing, Shoko Chukin Bank conducted due diligence that included interviews with the company’s management and a visit to Peach Cars’ Nairobi operations to evaluate its vehicle inspection processes.
Shoko Chukin Bank Executive Officer and General Manager of Startup Sales Koichi Takahashi said the lender was impressed by the company’s quality assurance systems and its potential to transform Africa’s used vehicle market.
“After visiting Kenya and directly observing the market and Peach’s inspection system, we realised that they are providing a new value of trust to the market through Japanese quality vehicle inspections and local operations,” Takahashi said.
“We have high expectations for their future as a leading platform provider in the African market, and that is why we have provided them with financing.”
The Japan Finance Corporation said the funding forms part of its strategy to support innovative startups expanding into international markets.
“We want to flexibly combine these different available financial schemes and actively support startups that are looking to expand their businesses in overseas markets,” said Kentaro Kobayashi of JFC’s New Business and Startup Support Office.
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