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Mar 31, 2021
Top 10 E-commerce Startups in Africa By Top 10 E-commerce Startups in Africa Africa presents vast opportunities in e-commerce. A report by Standard Chartered states that Kenya and Uganda were the first countries in the continent to introduce mobile payments in the mid-2000s. Africa has about 631 online marketplaces, which witnessed over 2.2 billion visits in 2019. With the COVID-19 pandemic increasing the usage of e-commerce sites by the common people, let’s get to know the Top 10 E-commerce Startups in Africa: 1. Twiga Foods Founding Year: 2013 Funding received: US$ 107.1M Investors: Goldman Sachs, Omidyar Network, International Finance Corporation, Google Launchpad Accelerator, 1776 Ventures, Wamda Capital, IFC Venture Capital Group, TLcom Capital Partners, GSMA Ecosystem Accelerator, OPIC – Overseas Private Investment Corporation and 9 other investors Twiga Foods is a B2B e-commerce platform that takes produce directly from farmers and delivers it to urban retailers. Its mobile-based supply platform serves Africa’s retail outlets, kiosks, and market stalls. Its platform has enabled millions of small and medium-sized vendors in African urban markets to get access to quality products. 2. Copia Global Founding Year: 2012 Funding received: US$ 53M Investors: DCVC, Endeavor Catalyst, Nimble Ventures, Savannah Fund, Lightrock, Goodwell Investments, DOB Equity, Opes Impact Fund, U.S. International Development Finance Corp, Perivoli Innovations Copia Global provides a consumer catalogue order and delivery system. Its service utilizes mobile technologies and a network of agents serving as distribution points, enabling rural and semi-urban consumers to get a wide range of quality goods at reasonable prices. 3. Jiji Founding Year: 2014 Investors: Digital Spring Ventures, Allrise Capital, Knuru Capital Jiji is an online marketplace that enables buyers and sellers to meet and exchange goods and services. In 2018, the Jiji app was the most downloaded app in the shopping category in the Nigerian region, and it is also currently the highest-rated app in Nigerian e-commerce. 4. TradeDepot Founding Year: 2016 Investors: Partech, MSA Capital, IFC Venture Capital Group TradeDepot is an end-to-end distribution platform that connects the world’s top consumer goods companies directly to African vendors. The startup’s goal is to build the largest retail distribution network in Africa. It is on a mission to improve milk distribution to smaller vendors in the African continent, leveraging technology. Currently, the startup is scaling the same technology to improve the distribution of food, beverages and personal care products to retailers, and to also improve their livelihoods. 5. MaxAB Founding Year: 2018 Investors: 500 Startups, BECO Capital, Endure Capital, 4DX Ventures, Outlierz Ventures MaxAB is a B2B e-commerce marketplace that connects food and grocery dealers to suppliers in Egypt’s most under-served locations. It restructures the food and grocery market, leveraging data-driven technologies and state-of-the-art supply chains. It is on a mission to empower Egyptian retailers, by availing them access to a wide range of products, premium service, and operational support. Its tech-driven supply chain is helping put the correct amount of food at the right place at the right time. 6. Cars45 Founding Year: 2016 Investors: New Enterprise Associates, Balderton Capital, TPG Growth, EchoVC Partners, Frontier Car Group Cars45 buys, sells, prices, and rates the condition of pre-owned vehicles. Owners enter their vehicle information on the Cars45 site for a free quote. They can then schedule an appointment at one of the startup’s 13 inspection centres in Nigeria. After multiple evaluations including engine, brakes, tires, and a road-test, Cars45 makes an offer. If accepted, the startup commits to wire payment to the owner’s bank account within 45 minutes. After pricing and creating a digital service history, Cars45 offers the vehicles it purchases to a private network of buyers. 7. ExpandCart Founding Year: 2013 Investors: Betatron Venture Group, Graphene Ventures, Sawari Ventures, Agility Ventures ExpandCart is the leading Arabic e-commerce platform in the Middle East. Since its inception, ExpandCart has acquired hundreds of clients ranging from individuals & small companies to enterprise-level corporations, creating impressive traction and success for its clients. 8. Sendbox Founding Year: 2016 Investors: Y Combinator, Microtraction Sendbox is a platform that provides infrastructure for shipping, escrow payments and discovery services to merchants and customers in North America, Europe and Africa, who participate in e-commerce on social media platforms like Instagram, Facebook & WhatsApp. 9. Wicks Funding received: US4 103.2K Wicks is an e-commerce startup that offers a new virtual marketplace with new buying techniques and a novel shopping experience to its users. By leveraging augmented reality, it has built a new virtual marketplace with new shopping techniques and end-user shopping experiences. 10. Farmhut Founding Year: 2018 Investors: Hult Prize Foundation Farmhut is the largest farm-to-folk marketplace in Zimbabwe. It is an online platform whose mission is to revolutionize the food supply systems across Africa. It supports smallholder farmers to achieve productivity and profitability. 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