Kenyan Marketing Startup Alfluence Raises $1 Million in Venture Funding
Kenyan marketing platform Alfluence Inc has raised $1 million (Sh108 million) led by Dubai-based EQ2 ventures joined by Nigeria VC OUI Capital, Arabyads, Antler East Africa, and participation unnamed European family office. The new seed capital by the global venture capital backers will significantly help the company expand into new markets, majorly in Africa, the Middle East, and Asia, by the end of 2021. The funds will also help the firm invest more in technology in its platform.
The company that conducts AI-backed influencer marketing helps brands accurately measure the return on investment on campaigns and effectiveness of influencer marketing campaigns and runs campaigns in 13 countries in Africa, the Middle East, and Asia.
Awards By Alfluence
Founded in April 2019, the startup has in the past one year won the US-Africa tech challenge and successfully awarded its first campaign outside Africa- in Indonesia, India, Pakistan, Thailand, UK, and Afghanistan
“We find ourselves at an intersection of advanced technology and the fastest-growing region in the world in terms of digital and social media penetration.” Alfluence Co-founder and Chief Executive Officer Nelson Aseka.
The firm has shown a key interest in expanding globally and has strived to work hard to understand all markets and help as many brands as possible get to their targeted audience. This will help the brand build a thriving clientele base, and Alfluence is ready and willing to walk with them every step of the way.
The IT sector has recently seen a surge in investors who have been pouring billions in the region, with Alfluence being one of many local startups seeking venture funds and private investors.
A recent survey by the Japanese government agency, Japan international cooperation, and Kenya Bankers Association showed that the ICT sector accounts for 20.6 percent of all MSMEs in Kenya, second to the wholesale and retail trade sector at 38.3 percent.