Monday, October 6, 2025
24.2 C
Lagos

Afrimarket Raises €10m to Deploy e-Commerce Platform in Six African Nations

French start-up, Afrimarket raised €10 million to deploy its e-commerce platform in six new African nations, French daily Les Echos reported on September 5.

“Funds mobilized will help us develop our e-commerce platform,” said Rania Belkahia, co-founder of Afrimarket. Launched about a year ago in Cote d’Ivoire, the platform will be deployed in four other countries (Senegal in October, followed by Cameroon, Benin and Togo), where Afrimarket already operates in the remittance transfer domain, and in 2017 in Mali and Burkina Faso. “We want to become the reference in terms of e-commerce in French-speaking West Africa,” Belkahia declared.

Through the new fundraising which brings to €13 million the total amount raised by the start-up since its creation, multiple investors entered its capital. These include British investment fund Global Innovation Fund and Proparco, the private sector arm of the French Development Agency (AFD).

Many individual investors also participated to the process, like the co-founder of PriceMinister, Olivier Mathiot, who thus joins the administration board.

Previous investors like Orange, Xavier Niel of Free, or Jacques-Antoine Granjon of Vente-privee.com are the other board members. “From a mere wish, we were able to constitute a diversified group of shareholders comprised of global actors, industrials, and entrepreneurs with experience in e-commerce and telecom,” said Rania Belkhia pleased.

Though operational in one country only, Afrimarket’s e-commerce platform generates 30% of the start-up’s turnover.

spot_img
spot_img
spot_img

Hot this week

Ecobank Nigeria Launches Upgraded Mobile App for Faster, Smarter Banking Experience

Ecobank Nigeria, a subsidiary of the leading pan-African banking...

Ortom, NOA DG, Others to Feature as Panelists at GOCOP 2025 Conference

The Guild of Corporate Online Publishers (GOCOP) has announced...

AIICO Celebrates Retiring Employees: Honouring Decades of Service with Gratitude

Left - right: Adeleke Adeshina (rtd), Lanre Oladehinde (rtd.),...

Nigeria’s Banking Woes: How One South African Bank Outvalues an Entire Industry

It is a sobering reality that one South African...

Topics

FedEx Acquires TNT Express

FedEx acquires TNT Express recently. The acquisition of Dutch...

NLNG Unveils New Logo in Rebranding Move

Nigeria LNG Limited (NLNG) has unveiled a new logo...

Linkage Assurance Reports N3.7bn Premium in 2015

Underwriting firm, Linkage Assurance Plc has promised its shareholders...

Heirs Insurance Group Donates Solar Power Station to Lagos Passport Office

From L-R: Wole Fayemi, MD/CEO, Heirs General Insurance, Mrs....

UBA, Etisalat, Afrinvest for Enugu State Investment Summit

The United Bank for Africa (UBA) Plc, telecommunications giant,...

Afreximbank, AFC, Gemcorp Partner on $335m Cabinda Oil Refinery Facility

    Gemcorp Holdings Limited (GHL), Africa Finance Corporation (AFC) and...

Allianz Nigeria Unveils Funeral Insurance Plan for Family Protection

L-R: Abimbola Lawson, Chief Operating Officer; Afolabi Lawal, Chief...

Royal Exchange: N11bn Premium Drop in 9 Months, N356m Loss in Qtr 3

Royal Exchange Plc has reported N11 billion drop in...
spot_img

Related Articles

Popular Categories

spot_imgspot_img