Afrikrea, Ivorian Ecommerce Startup, Raises $1M, Eyes Global Expansion

Afrikrea has recently just raised $1 million to grow its marketplace, hire more developers and export Africa’s culture.

Founded in 2016, Afrikrea is an online marketplace for African-made, handcrafted fashion, art, and fabrics. The platform offers free shops with advanced products and transaction management tools to sellers, as well as insights and support on how to grow their business worldwide. Its community of over 5,000 designers has so far made US$5 million worth of sales across 101 countries.

The platform also facilitates efficient exchanges with buyers at every point in the life-cycle of transactions via its messaging system, which it says records over 30,000 messages every month.

The startup, which was one of the 10 from across the continent that competed in last year’s edition of Jack Ma’s Netpreneur Prize, has a partnership with DHL that enables sellers from any African country to ship worldwide for lower prices and is now planning further growth after banking US$1 million in funding.  bagged$65k for finishing in the top 10 at the inaugural Africa Netpreneur Prize sponsored by Jack Ma, the Ivorian startup has raised $1 M to enable further development of its online commerce platform.

The investment round is led by existing Afrikrea investor Saviu, and also includes Id4 Ventures, an angel fund that invested in the likes of Showroomprive, France’s second-largest fashion and beauty e-commerce platform. Afrikrea raised investment funds from Saviu, Showroomprive, and Id4 Ventures to bring the startup’s total funding to around USD 2 Mn – including the $65k Netpreneur prize.

Afrikrea will use the funds to expand its mobile marketplace, further marketing efforts, and add experienced remote developers to its team.

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