Afrimalin Raises EUR400,000 In Development Funding

Afrimalin Raises EUR400,000 In Development Funding

Three months after its creation was announced, Afrimalin, a new site of free classified site focusing on the Francophone West Africa, has raised about EUR400,000 in development funding.

Afrimalin was created by three business angels who possessed good grasp of the Internet landscape of Africa. Thibault Launay and Romain Girbal , the founders of the mining company Alliance Mining Manager (AMR, Guinea), the communicating Celia Grémy and entrepreneur Senegalese Mamadou Niane .

Investors who participated in the funding round are Amaika Asset Management David Kalfon, former finance professor at Thibault Launay Paris Dauphine University and the Milchior family , owner of the clothing Etam group. Yannick Naud, advisor to the Board of administration AMR, also set the pot. This London-based financial working since 2014 in Sturgeon Capital, an investment fund that is positioned on the “New Silk Road” being deployed by China .

Source with the knowledge of the matter confirmed that the funding round was oversubscribed.

Curly in 72 hours, the fundraising was oversubscribed, without the founders however decide to raise the amount originally targeted.

Afrimalin disclosed that it received over 100,000 visits in the month of September alone, the startup said it wants to touch the small artisans, traders and SMEs in West Africa who usually do not use the Internet in their business.