About this raise
Africa Eats, with a valuation of $300,000, is raising funds on Wefunder. It is a for-profit organization tackling hunger and poverty in Africa. Africa Eats platform has 27 vetted and trained companies that are processors, aggregators, and distributors of food and help provide food and food-related services to the poor in Africa. The portfolio companies of Africa Eats generated aggregate revenues of $9.8 million in 2020, up 61% year-over-year since 2014. Luni Libes and Jumaane Tafawa founded Africa Eats in November 2021. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $200,000. The campaign proceeds will be used for creating shared savings and insurance services and purchasing solar, trucks, and other equipment needed by the company.
Investment Overview
Invested : $127,100
Deal Terms
Total Commitments
- Platform
- Wefunder
- Start Date
- 01/24/2022
- Close Date
- 03/22/2022
$100,000
$200,000
$100
Equity - Preferred
Early Stage
RegCF
$1.00
$200,000
$300,000
Company & Team
Company
- Year Founded
- 2021
- Industry
- Farming & Agriculture
- Tech Sector
- Distribution Model
- B2B/B2C
- Margin
- Low
- Capital Intensity
- Low
Upgrade to gain access
-
$12.50 /month
billed annually - Free portfolio tracking, data-driven ratings, AI analysis and reports
- Plan Includes:
- Everything in Free, plus
- Company specific
Kingscrowd ratings and analyst reports
- Deal explorer and side-by-side comparison
- Startup exit and failure tracking
- Startup market filters and historical industry data
- Advanced company search ( with ratings)
- Get Edge Annual
Edge
Ratings 
Company Funding & Growth
Funding history
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 11/05/2024 | Wefunder | $1,704,157 | $0 | Equity - Preferred | Not Funded | RegCF |
| 03/22/2022 | Wefunder | $300,000 | $127,100 | Equity - Preferred | Funded | RegCF |
Growth Charts
Revenue History
Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.
Valuation History
Price per Share History
Note: Share prices shown in earlier rounds may not be indicative of any stock splits.
Employee History
Founder Interview
Founder Profile: Luni Libes of Africa Eats
The relationship between poverty and hunger is especially apparent in Africa, which is home to more than 25% of the world’s hungry. This poverty partially stems from agricultural issues, including poor infrastructure and unequal trading terms with outside countries. Because agriculture plays a major role in the African economy, improving the industry could provide enormous benefits across the continent.Africa Eats is helping African businesses involved in the agricultural supply chain. It consists of two parts: Africa Eats Ltd., a holding company with a portfolio of 27 African companies, and Africa Eats SPC, which provides those companies with services to help them succeed. We reached out to co-founder and CEO Luni Libes to learn the company’s origins and how it finds other companies to invest in.
Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.