The International Finance Corporation (IFC), Proparco, and the French Public Investment Bank participated in a US$5M pre-Series A extension round that was headed by Anka, the “All-in-one SaaS for global African businesses,” and it has now been closed.
The current round of funding takes the company’s total investment to date since its founding in 2016 to US$13.5M. ANKA will use this funding to support its efforts in product development and service expansion in order to promote and enhance the growth of African entrepreneurship on a global scale.
The company plans to expand its reach in key markets where it has already had unmatched growth, including the US for its customers and subscribers as well as Nigeria and Kenya for the number of vendors. In addition, ANKA intends to actively hire sales, technical, and product talent with the funding to fuel its expansion.
Since its most recent capital infusion in 2022, ANKA’s margins and its network of African SMEs in 47 of the continent’s 54 countries have nearly doubled. In more than 175 nations throughout the world, the firm handled transactions totaling more than $50M USD.
Since 2022, when ANKA raised its first round of funds, its annual revenue has climbed more than 18 times, from €200k to €3.6M. By 2030, the platform hopes to have 100,000 African sellers registered, promoting the international trade of “all things made of Africa” to a wide audience. These accomplishments highlight ANKA’s significant contribution to the African e-commerce ecosystem. In addition, it aspires to be the equivalent of “Paypal” for all African entrepreneurs.
ANKA offers African business owners a platform with a subscription-based business model to:
Sell products on Instagram, WhatsApp, or a bespoke storefront. Receive payment for goods and services using international payment methods, and instantly withdraw cash using domestic payment methods (such as mobile money or bank transfers) or the specific VISA cards issued by ANKA.
Having access to a collection of the best shipping options, such as DHL service for less than $20 up to 2kg in under 72 hours, is essential when delivering goods.
The co-founder and CEO of ANKA, Moulaye Taboure, expressed his excitement about the fundraising effort: “We are beyond happy to see our vision for our sellers and clients coming to life at an unprecedented scale. The advancement of the creativity and innovation that we know are being led by the continent and that are shouting louder than ever on the world stage is dependent upon this fresh round of funding from our partners.
Africans are thrilled that they, along with our other investors, can help us continue to fulfil our aim of “Unleashing the growth of African entrepreneurship” because the IFC in particular has long believed that Africans are the leaders in these areas.
Abdoul Kadry Diallo, ANKA’s COO and Co-Founder, continued, “We have always believed in the continent’s undiscovered cultural treasure. Amazing people, goods, and services may be found on our continent and can have a big impact on the world economy.
We will be able to continue increasing our operational effectiveness thanks to this second amount of funding, which will help us reach the next level of lucrative growth for both our company and our sellers. With up to 45 million individuals of African heritage residing in North America and 10 million in Europe, there is a sizable African diaspora throughout the world.
Both locations already produce the majority of ANKA’s exports, and they present a sizable chance for the business to expand as it works to increase investment.
With up to 45 million individuals of African heritage residing in North America and 10 million in Europe, there is a sizable African diaspora throughout the world. Both locations are already the source of ANKA’s largest exports, and they offer the business tremendous room for expansion as it works to increase global investment and trade in Africa’s creative economy.
IFC Managing Director Makhtar Diop stated: “It is essential to raise the standard of economic inclusion and promote sustainable growth by empowering African craftsmen, particularly women, and assisting them in accessing wider markets. Our goal of aiding Africa’s creative sector to open up new prospects for equitable growth is consistent with ANKA’s approach of linking artisanal fashion designers and merchants to global markets.
“We are thrilled to observe the rising influence of ANKA on the development of SMEs in Africa, as well as on the employment of women, who account for 80% of the 20,000 merchants utilising the platform, said Fabrice Perez, Head of Proparco VC division. This equity investment, which comes after a loan bridge from Digital Africa that has already been fully returned, confirms Proparco’s commitment for ANKA.
ANKA is currently hiring for a variety of positions across the organisation. Please visit the recruiting portal at https.//anka.breezy.hr/ for a complete list of open positions.