$2.65 M Pre-seed funding raised by Nigerian social commerce platform MAKA
In order to help it grow, Nigerian social commerce startup MAKA, which makes finding and buying fashion items easy and pleasant, has acquired a US $2.65 million pre-seed round of funding.
MAKA is an interactive social commerce platform that was founded in 2021 by CEO Diana Owusu-Kyereko. It allows consumers to discover products that are scalable and customized to their particular styles through live try-on hauls, reviews, and user-generated material from both creators and customers.
Owusu-Kyereko was referred to mainstream blogs and influencers by friends after she struggled to find inspiration for inclusive fashion during the pandemic. She started MAKA, which has had over 550,000 downloads to date, after recognizing an unmet need and a lack of diversity in style advice.
To help it grow, the firm has already obtained pre-seed capital totalling US $2.65,5 million. With additional support from Palm Drive Capital, 4DX Ventures and Janngo co-led the investment. Executives from the delivery platform Wolt and angel investor Jonathan Shipman are also there.
“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,” said Owusu-Kyereko.
“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.”
Janngo Capital’s founder and executive chair, Fatoumata Bâ, stated that her company was drawn to MAKA’s vision because it uses technology to empower creators and consumers, securing its place at the forefront of the intersection of the African e-commerce, creative, and cultural industries.
“These three sectors are jointly poised to grow by 4x by 2050 and generate up to US $200 billion 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,” she said.
