# CoinAfrique

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/coinafrique

- Industry: Marketing/Advertising
- Headquarters: Mauritius
- Website: www.coinafrique.com
- Total disclosed funding: $3.1M
- Latest round: Series A (Apr 12, 2018)
- Investors on record: 3

## About

CoinAfrique is an online marketplace that connects buyers and sellers across francophone Africa, facilitating the exchange of both new and used goods through its mobile application.Founded in 2014, CoinAfrique operates as an online marketplace specializing in classified ads. The company is headquartered in Mauritius and has undergone a recent acquisition by Automarket Nigeria Ltd. The founder, Jimmy Kumako, has had previous entrepreneurial experience. CoinAfrique received funding through its SERIES A round, raising EUR 2.500 mn on July 6, 2022, with investors including French Partners, I&P, and Mercure International, marking the total amount raised at EUR 2.500 mn.CoinAfrique is a leading online marketplace specializing in classified advertisements across francophone Africa. The platform facilitates a seamless buying, selling, and exchanging experience for both individuals and businesses looking to trade a variety of products, including new and used items. CoinAfrique's core offerings revolve around its user-friendly mobile application, which allows users to easily list products, browse available listings, and connect directly with potential buyers or sellers. The service primarily targets consumers in several key markets, including Senegal, Ivory Coast, and Cameroon, addressing the need for a reliable and efficient marketplace in these regions.CoinAfrique generates revenue through a transaction-based model that facilitates direct interactions between buyers and sellers. The platform implements a structure that includes featured listings or promotional services, allowing users to elevate the visibility of their ads for a fee. The revenue model is designed to cater to a diverse clientele, including individual sellers and small businesses. Additionally, the company offers subscription services or partnership opportunities to local retailers seeking to leverage the platform's extensive reach.Following its acquisition, CoinAfrique is set to accelerate its expansion across Francophone Africa, leveraging its new backing to enhance its operational capabilities. The recent funding will support this growth strategy, allowing for the introduction of new products and services tailored to meet the market demands. Specific plans for geographic expansion have not been detailed, but the company aims to strengthen its presence in existing markets like Senegal, Ivory Coast, and Cameroon.

## Funding rounds

- Series A, Apr 12, 2018, $3.1M — I&P, French Partners, Mercure International

## Investors

- I&P (https://capitalatlas.ai/funds/i-p) — Series A
- French Partners (https://capitalatlas.ai/funds/french-partners) — Series A
- Mercure International — Series A