Maka raises 2.65 million US dollars to simplify buying fashion in Africa

Africa’s leading fashion and beauty e-commerce platform Maka has raised a 2.65 million US dollar pre-seed round, co-led by venture capital firms 4DX Ventures and Janngo Capital, as it looks to simplify buying fashion and beauty products in Africa.

The social media commerce platform, founded by chief executive Diana Owusu-Kyereko in 2021, said the seeding round also included backing from Palm Drive Capital, angel investor Jonathan Shipman, former EVP and Twitch founding member, and executives from delivery platform Wolt.

The funding will help Maka meet the growing demands of Africa’s rapidly expanding e-commerce industry, which the McKinsey Global Institute predicts will be worth 75 billion US dollars by 2025.

Described as an interactive social commerce platform, Maka connects influencers and consumers, bringing them together through live try-on hauls, reviews, and user-generated content, enabling users to discover products tailored to their personal styles. It taps into the growing trend of influencer-inspired buying decisions, which according to data from Hubspot, 30 percent of people state that creator recommendations impact on their purchases.

Maka secures investment to strengthen its presence in Africa

Diana Owusu-Kyereko, co-founder and chief executive of Maka, said: "African e-commerce deserves better, and we’re driven by our belief that everyone should be able to easily discover their style, feel represented and express their individuality. Our technology, coupled with our team of experts, not only empowers users but also liberates them to confidently explore and make purchases from verified and trusted brands.

"Young consumers today face a shared dilemma—they crave authenticity and the freedom to set their own trends, but they are influenced by real people, and they seek choice and individuality without being misled. Our focus remains clear, and we're committed to providing our users with an authentic space to explore their unique style while empowering creators to showcase their content and connect with new audiences. We want to foster meaningful connections between creators and customers.”

Africa’s e-commerce market is booming

Maka blends content and commerce, targeting Africa’s 1.1 million millennials and Gen Zers, in an e-commerce market that it states is a largely untapped market for fashion brands. Over the past few years, e-commerce penetration in Africa has surged, rising from 13 percent active paying customers in the general African population in 2017 to 28 percent in 2021, representing 334 million users, according to a report from UNESCO. This rapid growth has accelerated the development of Africa's fashion sector, allowing brands to access a wider base of consumers across the continent.

The platform also aims to solve a trust issue in the African e-commerce sector, while also empowering creators to monetise their content to help users make informed buying decisions. Maka adds that local apparel brands are scarce, which leaves consumers with limited options that speak to their style and fit, and in-person shopping remains stressful and limited. A fragmented online shopping landscape also makes it hard for consumers to discover and trust new brands, while social media feeds inundate people with impersonalised content. However, Maka offers curated content and reviews to foster community and trust.

Fatoumata Bâ, founder and executive chair of Janngo Capital, added: "We were drawn to Maka’s vision as they leverage technology to empower both consumers and creators, thus cementing their position at the forefront of the junction between e-commerce, creative and cultural industries across Africa.

“These three sectors are jointly poised to grow by 4x by 2050 and generate up to 200 billion US dollars GDP while creating 184 million jobs. We are proud to lead this funding round to help unlock a potential of massive growth and impact on the continent."