Peach Cars has secured $11 million (Ksh. 1.4 billion) to supercharge Africa’s next generation used car economy. They received the funds in a Series A round led by Suzuki Global Ventures (SGV), the venture capital arm of Suzuki Motor Corporation.
Also joining the round were the Japan Bank for International Cooperation (JBIC), and The Gogin Capital Co., Ltd. Returning investor UTEC (The University of Tokyo Edge Capital Partners) also took part with a pro-rata investment.
The funding will give Peach Cars the muscle to expand into new markets, build deeper trust infrastructure, and scale their platform.
“For most people across Africa, buying a car isn’t just a transaction – it’s a major life event,” said Kaoru Kaganoi, Founder and CEO of Peach. “This raise isn’t just capital – it’s a vote of confidence in an African mobility model that works. One that’s customer-first, tech-enabled, and built for long-term trust.”
“We’re inspired by Peach’s founders, who have committed themselves to Africa and tackle local challenges with meticulous, on-the-ground execution. Peach’s customer-first philosophy – putting satisfaction and trust before scale – mirrors Suzuki’s own values. Africa is Suzuki’s next frontier after India, and a healthy, transparent secondary-car market is essential to our future growth on the continent. Peach is building exactly that infrastructure, transforming a fast-moving but underserved market into one that is structured, trusted, and scalable. We’re proud to lead this round and support their journey,” said Mike Sarchet, a Senior Director at Suzuki Global Ventures.
With this funding, Peach Cars will:
● Achieve national coverage across Kenya, expanding its reach beyond Nairobi and into underserved counties
● Build the foundation for regional expansion into East and Sub Saharan Africa
● Grow its product and engineering teams to digitize, scale and optimize its platform through R&D efforts
● Open new service and inspection centers to boost vehicle quality
● Launch new verticals, including easier access to genuine parts procurement, logistics, and deeper financing options
Peach Cars was co-founded by Kaoru Kaganoi and Zachary Petroni. Kaoru Kaganoi serves as the CEO, while Zachary Petroni is the COO. They established the company in 2020 with the goal of creating a transparent and trustworthy marketplace for used cars in Sub-Saharan Africa. Peach Tech owns Peach Cars, which has the same founding team.