Ivorian SaaS e-commerce platform ANKA raises $5 million

As the world becomes increasingly digitized, the African continent has seen remarkable growth in its e-commerce sector.

With e-commerce penetration surging from 13% in 2017 to 35% in 2023, accompanied by an impressive revenue increase from $138 billion to $435 billion, according to the International Trade Administration, the African continent is emerging as a hub of innovation and opportunity.

This growth has paved the way for startups like Ivorian SaaS e-commerce platform ANKA, formerly known as Afrikrea, to thrive.

Founded in 2016, ANKA describes itself as an all-in-one SaaS for global African businesses to sell from anywhere, ship worldwide and get paid. It caters to a wide range of users including exporters, online merchants, and drop shippers.

At the core of its offering, helps these business to manage their sales, shipments and payments all in one place. The platform offers entrepreneurs a marketplace to showcase their products to a global audience connecting local African businesses with potential buyers. It also partners with both local and international industry giants like Visa, MTN, SEPA and DHL to meet users' payment and shipping needs.

Currently, the platform boasts over one million monthly visits and has facilitated $50 million in transactions across 175 countries. It also boasts impressive revenue figures, which surged 18 times from €200,000 to €3.6 million.

Recently, ANKA achieved a significant milestone by securing $5 million in a pre-Series A extension round, bringing its total investment to date to an impressive $13.5 million. This funding, comprising a combination of equity and debt financing, comes from esteemed investors, including the International Finance Corporation, Proparco, and Bpifrance.

With the fresh capital infusion, ANKA plans to strengthen product development and expand services, particularly in key markets like Nigeria, Kenya, and the United States. The goal is to enhance the e-commerce capabilities of the platform, providing an even more seamless and efficient experience for African businesses eager to venture into the world of online sales.

This achievement builds on the platform's earlier success, having raised $6.2 million in January 2022, bringing its total investment to an impressive $13.5 million since its inception seven years ago.