French startup Afrimarket secures €10 million to grow its e-commerce platform in Africa

Moroccan entrepreneur Rania Belkahia has raised €10 million in Series B funding for e-commerce platform Afrimarket, which targets the French-speaking countries of West Africa. (source: Les Echos)

The Series B round brings total investment for Afrimarket, which is based in Paris and Abidjan (Ivory Coast), to €13 million euros. The company was established in 2013.

The round included British investment fund Global Innovation Fund, which finances social innovation in the developing world, and PROPARCO, a subsidiary of the Agence Française de Développement (AFD) , France’s official development assistance to developing countries.

Other Afrimarket backers include Orange, Priceminister co-founder Olivier Mathiot, super angel and entrepreneur Xavier Niel, and Vente-privéé founder Jacques-Antoine Granjon.

Afrimarket allows people to pay for products and services for their families at home in (mostly West-)Africa, providing a modernised and secured alternative to remittance.

The service is available in Ivory Coast, Senegal, Cameroon, Benin and Togo.

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