AMAKA Studio, a tech startup revolutionizing the gig economy and creator landscape, announced the successful closure of its $2 million seed round led by Equitane. The investment round also saw participation from Morgan Stanley Inclusive Ventures Lab, Silverbacks Holdings, and a cohort of dedicated angel investors.
The raised fund will be used to accelerate its mission of providing a cutting-edge platform for creators and enhancing its fintech capabilities. The capital will be strategically allocated to achieve key objectives for the company.
A substantial portion of the funds will be directed towards the development and expansion of its platform.
AMAKA aims to enhance its existing infrastructure with innovative Gigs and fintech features, fostering a seamless user experience. By integrating digital wallets and accounts, creators will gain enhanced payment solutions while facilitating collaborative opportunities with brand partnerships.
With this funding, AMAKA has also introduced AMAKA Gigs, a new platform designed to facilitate connections between brands and Pan-African creators. This platform allows brands to discover, commission, pay, and manage creators through a streamlined process.
Additionally, AMAKA will channel resources into comprehensive product, content, and performance marketing campaigns. These initiatives will drive user acquisition, activation, retention, and ultimately monetization on the platform. By leveraging targeted strategies, AMAKA aims to cultivate a vibrant community of creators and users, fostering a dynamic ecosystem of innovation and collaboration.
Over the past three years, AMAKA Studio has evolved into a diverse and engaging space where creators and brands have thrived. Moving forward, the platform will expand to allow creators and brands to establish direct working relationships and enjoy a variety of automated and intelligent tools. Driven by social content creation, the platform will continue to focus on job creation and opportunities for African content creators who have been routinely excluded in the past.
AMAKA will bolster its sales team and invest in robust B2B marketing efforts to fuel its expansion into new markets and industries. By cultivating strategic partnerships and nurturing long-term relationships, the company seeks to attract a diverse array of small businesses and large advertisers to the platform.
Adaora Oramah, Founder of AMAKA, said, “This investment enables us to scale to a full proposition and technological ecosystem for creators to share content while also being commissioned for their work on the platform.”
“We aim to compensate Black and Africa creators for their work and address their current pain points while allowing audiences to browse and support both emerging and established content creators. Brands can use our platform to source creators for branded content and marketing strategies, driving equality and equity for African content creators worldwide. From content creation and commissioning to financial inclusion, we are driving economic impact and change for a dynamic community that has been routinely underserved,” said Oramah.
Anish Jain, CEO of Equitane, concludes, “We are excited to lead the investment in AMAKA Studio’s remarkable journey towards revolutionizing the creator economy. At Equitane, our mission to drive sustainable and innovative development aligns perfectly with AMAKA’s vision to empower creators through cutting-edge technology and financial solutions. This partnership reflects our commitment to fostering environments where technological and creative sectors intersect to promote economic growth and societal progress.”
Founded in 2021 by Adaora Oramah, AMAKA has seen remarkable growth, securing high-profile clients like Nike and YouTube. With a community of over 50,000 creators and businesses, and a platform growing at an average rate of 13%, AMAKA Studio is reshaping the gig economy landscape. The company’s commitment to fostering a vibrant community of creators and users has led to extraordinary collaborations with influential figures such as Naomi Campbell, Zozibini Tunzi, Noor Tagouri, and Ayra Starr.
