Maka Secures $2.65M Seed Funding to Drive Fashion and Beauty E-commerce Expansion in Africa

African fashion and beauty e-commerce platform, Maka, has successfully raised $2.65 million in seed funding led by Pan-African venture capital firms, 4DX Ventures, and Janngo Capital. The funding aims to fuel Maka’s expansion plans, strengthening its team in Nigeria while extending its reach to Ghana and other parts of Africa.

With over 500,000 downloads, Maka, founded by Diana Owusu-Kyereko (ex-Jumia CEO), focuses on enhancing the online shopping experience for millennials and Gen Zers. The platform incorporates interactive features like live try-on hauls, reviews, and user-generated content to bridge the trust gap in online shopping. The startup leverages video content to empower creators and provide a seamless shopping experience.

The funding round included participation from other notable investors such as Palm Drive Capital, Jonathan Shipman (angel investor and EVP founder), and executives from delivery platform Wolt. Maka’s vision aligns with leveraging technology to empower consumers and creators, placing it at the intersection of e-commerce, creative, and cultural industries across Africa.

Fatoumata Bâ, founder and executive chair of Janngo Capital, expressed optimism about Maka’s potential for massive growth and impact, particularly in the e-commerce, creative, and cultural sectors that are expected to grow fourfold by 2050, generating substantial GDP and job opportunities.

Diana Owusu-Kyereko emphasized Maka’s commitment to providing an authentic space for users to explore their unique style while fostering meaningful connections between creators and customers. The startup envisions empowering users to confidently discover their style, feel represented, and express individuality through its technology and team of experts.

Source: Business Day