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Saltside Technologies develops and operates prominent online classifieds marketplaces, specifically tailored for emerging economies. The company’s core product includes platforms such as ikman.lk in Sri Lanka and bikroy.com in Bangladesh, which facilitate transactions across critical sectors like vehicles, properties, and general merchandise. These digital ecosystems are further enhanced by comprehensive buyer guides designed to improve the user experience and streamline the buying and selling process.
The company was co-founded in 2011 by Nils Hammar and James Peck. Both founders brought a wealth of experience, notably from their early tenure at Skype. Their entrepreneurial vision stemmed from recognizing the significant and underserved demand for efficient and trustworthy online classifieds platforms within rapidly developing global markets, aiming to foster local digital commerce.
Saltside Technologies caters to a vast user base within its operational countries, empowering individuals to participate in dynamic online economies and readily access essential goods and services. The company's overarching mission is to build the largest, most efficient, and secure online marketplaces in these emerging regions, thereby driving economic growth and ensuring accessible, dependable transactions for all users.
Saltside Technologies has raised $65.0M across 2 funding rounds.
Saltside Technologies has raised $65.0M in total across 2 funding rounds.
Saltside Technologies has raised $65.0M in total across 2 funding rounds.
Saltside Technologies's investors include General Catalyst, NFX.
Saltside Technologies is a technology company that develops and operates leading online classified marketplaces in emerging markets, primarily serving users in Sri Lanka (ikman.lk), Bangladesh (bikroy.com), and Ghana (tonaton.com).[1][2][3][5] It builds platforms for buying, selling goods like vehicles and properties, recruiting, and general classified ads, targeting underserved communities to facilitate local commerce and economic activity.[1][2][5] With over 600 employees, $126 million in annual revenue, and $65 million in total funding, Saltside demonstrates strong growth momentum, including Bikroy's facilitation of 26 million sellers and 52 million buyers in Bangladesh while publishing 300,000 ads monthly.[1][2][3]
The company solves connectivity gaps in "off the beaten track" markets by providing accessible digital tools for transactions, supporting entrepreneurs, and fostering community value in regions with rising internet penetration.[2][5]
Founded in 2011 in Sweden (with headquarters noted in Uddevalla, Gothenburg, or nearby areas), Saltside Technologies emerged to build online marketplaces in underserved emerging markets.[1][3][4][5] Key details on specific founders are not detailed in available sources, but the company quickly expanded operations to Sri Lanka, Bangladesh, and Ghana, launching flagship sites like ikman.lk, bikroy.com (noted as founded in 2012 under Saltside), and tonaton.com.[1][2][3] Early traction came from dominating classifieds in these markets, with internal promotions highlighting organic growth—such as a customer support manager rising to Managing Director in Ghana and a field sales agent advancing to product development leadership.[2][5] This bootstrapped-like evolution, backed by patient investors believing in frontier markets, positioned Saltside as a key player in digital commerce for developing economies.[2][5]
Saltside rides the wave of digital adoption in frontier markets, where rising smartphone penetration and internet access are transforming informal economies into connected marketplaces.[2][5] Timing is ideal amid e-commerce growth in South Asia and Africa, countering challenges like low banking penetration by enabling peer-to-peer classifieds that boost local entrepreneurship and poverty reduction.[1] Market forces like urbanization and youth demographics favor its model, as seen in Bikroy's community-building efforts.[1] By dominating verticals in non-traditional markets, Saltside influences the ecosystem through job creation, seller tools, and investor confidence in emerging-market tech, paving the way for similar platforms.[2][5]
Saltside is poised for expansion into more frontier markets, leveraging its proven playbook of high-engagement classifieds and tech investments like advanced buyer-seller tools.[1][2] Trends such as AI-driven personalization, mobile-first commerce, and diaspora funding will shape its path, potentially amplifying revenue beyond $126M amid sustained emerging-market growth.[2][3] Its influence may evolve from regional leader to a blueprint for scalable marketplaces, drawing more partners as it balances profitability with community impact—reinforcing its core mission of creating value in underserved corners of the world.[5]
Saltside Technologies has raised $65.0M across 2 funding rounds. Most recently, it raised $40.0M Series B in January 2015.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jan 1, 2015 | $40.0M Series B | General Catalyst | |
| Jun 1, 2014 | $25.0M Series A | General Catalyst, NFX |