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Afrimarket - MyAfricanStartUp 100

Out of Africa

Afrimarket
E-Commerce
ABOUT US

Afrimarket is the first firm which helps the user to make his/her money sending toward Africa safer. It uses a high technology and an innovative solution to enable him/her to pay directly at his/her home all the health, education and food expenses his/her relatives need in Africa.

My African Startup
Maturity Level / Status Progress : Growth
Year of creation : 2013 / Turnover (USD) : / Turnover (USD) in 3 years :
Desired capital (USD) in 2017 :
Founder : Jérémie Stoss, François Sevaistre, Rania Belkahia / serviceclient@afrimarketgroup.com / https://afrimarket.fr

Principle and genesis of the offer

The principle of this French start up, created by three young graduated of “Grandes Écoles”, is to facilitate trades between African diaspora in France and their relatives in Africa. The principle is simple and is based on the money sent toward the continent. But now, instead of sending money, you directly pay to send the products people need. It is faster, more convenient for people living in Africa and more economical for the persons who send the products from France.
Since its creation, Afrimarket has raised 13 millions of funds. Today, the company has 30 000 users and 35 employees. The firm is acquiring new investors to expand the offer. During summer 2015, the start-up joined the group Orange (one of the main investors since January 2015). This entry of Orange in the capital is also a great opportunity for the telecom heavyweight, who counts on the African growth to retain new customers and enlarge its market. Afrimarket has also other investors coming in its capital, like the British investment funds Global Innovation Fund and Proparco, the filial of the French Development Agency dedicated to the private sector. The fundraising have not interested only huge groups, but also individual investors, as the co-founder of Price Minister, Olivier Mathiot, who enters the board of directors.

Customer Care

To access the offer, the consumer just has to log in on the website https://afrimarket.fr. He or she chooses among the partner shops or pharmacy, indicates the person he/she wants to send the voucher to, and the amount of money to pay. The partners have been chosen by the firm, they are among the best pharmacies, shops, book shops or hospitals in the country. For the moment, Afrimarket is only available in Senegal, Ivory Coast, Benin, Togo and soon in Mali.
The user’s relatives in Africa will receive a text warning and he or she can go the chosen shop and spend the money, just by showing the phone. If there is some extra cash, no worries: he or she will be able to come back whenever he or she wants to spend it.
The persons you send the voucher to do not need any particular phone or smartphone, they do not have to be linked with a particular phone operator. When you receive money, you just have to go shopping with your phone. The shopkeeper must be equipped with an Afrimarket terminal and it is all.

What is an innovation

When the user chooses to use Afrimarket, he or she makes his/her money sending safer and enables a certain reception of the vouchers for the people in Africa. Furthermore, the offer enables people in Africa to buy among the best products and services there, they do not need to bother about the quality of the goods they buy anymore. The trades between the consumer and his/her relatives are facilitated and safe.
Besides, it avoids money loses between France and Africa, unlike the traditional remittance system. The vouchers can be spent from 5 days after the date of the money sending.