Nairobi-based car dealer Khalif Kairo has successfully raised over Ksh 6 million in just 12 hours as part of efforts to revive his business. The funds were collected through an appeal to his supporters and potential investors.
In an announcement on X (formerly Twitter), Kairo shared plans to open his company, Kai & Karo, to new investors, encouraging interested parties to visit his platform for further details.
“We are opening up http://kaiandkaro.com to new investors. Press the link to learn about terms: http://wefunder.com/flexmobi,” Kairo wrote in the post.
He also included a disclaimer to clarify the nature of the offer:
“We are ‘testing the waters’ to gauge investor interest in an offering under Regulation Crowdfunding. No money or other consideration is being solicited. If sent, it will not be accepted. No offer to buy securities will be accepted. No part of the purchase price will be received until a Form C is filed and only through Wefunder’s platform. Any indication of interest involves no obligation or commitment of any kind.”
He added:
“Crowdfunding essentially means we are taking as little as usd 100 from investors willing to risk and bet on us. At a certain point in time, those investments will be converted into equity / shares. Its an excellent funding model that was introduced in the US around 2012.”
Since the announcement, his potential ‘investors’ have raised $55,889 (Ksh7,220,858.80) in just 12 hours.
Kairo’s move comes as he seeks to rebuild and expand his business following financial challenges. His rapid fundraising success has garnered significant attention online, with many commending his resilience and entrepreneurial spirit, while others terming it as ‘fraud’.
