Published
Mar 10, 2016
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Africa Internet Group secures over €300M in funding

Published
Mar 10, 2016

Africa Internet Group (“AIG”), the parent company of Jumia, the leading ecommerce platform in Africa, has secured more than 300 million euros in funding from new and existing investors.
 
The investment includes a previously announced funding commitment from AXA and a new round of investments by existing investors MTN and Rocket Internet as well as a new investor, Goldman Sachs.


Jumia is the leading ecommerce platform in Africa - facebook.com/jumia.com.ng

 
The funds will significantly strengthen the balance sheet of AIG and support the continued growth of Jumia.
 
“This investment is a recognition of the success that Jumia has already achieved and provides us with a strategic flexibility to further support our efforts to offer the best shopping experience to our customers,” says Sacha Poignonnec and Jeremy Hodara, founders and co-CEOs of Jumia and AIG, in a news statement.

Jumia will also use the funds to execute on attractive development opportunities in Africa along with AIG’s other ecommerce platforms.
 
Jumia is AIG’s main subsidiary and is currently present in 11 African markets and provides the platform for local African businesses to sell products. Other subsidiaries of AIG include Kaymu, Hellofood, Jovago, Lamudi, Everjobs, and Carmudi. 

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