Finance

Côte d’Ivoire: Afrikrea gets $1mln expansion fund

Friday, 28 February 2020 13:29
Côte d’Ivoire: Afrikrea gets $1mln expansion fund

(Ecofin Agency) - Afrikrea, a Côte d’Ivoire-based startup specializing in the online sale of creations by African artists working in the art, fashion and handicrafts sector, has finalized a $1 million financing round with Saviu Ventures, an investment firm that targets companies with high growth potential in Côte d'Ivoire and Senegal. Showroomprive.com, the French specialist in online event sales, and ID4 Ventures fund also participated.
The money will be used to strengthen the working team of the company, founded in 2016 by Malians Moulaye Tabouré and Abdoul Kadry. “We are about 20 employees and we plan to hire to strengthen our team,” said co-founder Moulaye Tabouré.

Afrikrea makes between 2,000 and 3,000 shipments per month to 101 countries. The firm, which claims a community of 300,000 people, relies on its partnership with the logistics company DHL to ensure the distribution of the products.

Present on the Ivorian market, the Afrikrea platform hopes to extend its activities to new African countries in the coming years.

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