(Bloomberg) — An Africa-focused e-commerce platform backed by Alibaba Group Holdings Ltd. co-founder Joe Tsai, has raised $6.2 million to expand into more markets and products.
ANKA, re-branding from Afrikrea, said its fund-raising round was led by Investisseurs & Partenaires, with participation from Tsai, Enigmo Inc and other investors.
Founded in 2016, the company has expanded from Ivory Coast to more than 45 countries on the continent. It runs a marketplace, initially focused on connecting sellers of African-inspired fashion, covering clothing, accessories, arts and crafts to customers across the world, including the U.S.
The new-look firm plans to “serve sellers, not just in fashion,” but in various sectors, ANKA co-founder and Chief Executive Officer Moulaye Taboure said in a statement on Tuesday.
ANKA joins several startups looking to expand across Africa amid the continent’s push to boost trade through the African Continental Free Trade Agreement — partly helped by technological advancement.
ANKA will use the proceeds to expand its mobile infrastructure and hire more staff for further product development, it said in the statement.
The company has been in partnership with logistics firm DHL, and has grown to handle more than 10 tons of shipments monthly.
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