Update 2: The company put out a new video on social media, officially announcing that they have fully rebranded to ANKA Marketplace, dropping their Afrikrea name.
Original Story
ANKA (formerly known as Afrikrea) looks like it might be closing down after being in operation for close to 11 years.
Details
In a post on X, one of ANKA’s founders delivered a video message announcing an end to the marketplace. He cited economic challenges including high inflation and rising payment issues.
Zoom Out
The startup had recently raised $5 million in a Series A extension round in September of last year. The company had also released its white paper on its top sellers in Africa.
The Big Picture
African economies are still recovering from the pandemic with many still reeling economically. Countries including Nigeria, Sierra Leone, and Ghana have experienced high inflation rates, and securing VC funding from investors has not been easy for African startups.
Update: We updated our story to indicate that ANKA Africa itself might not be shutting down after all
Update 2: We updated our story with a new video from the ANKA founder about their new brand
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