Last Updated on March 4, 2016 by Larious

Africa Internet Group (“AIG”), the guardian of Jumia, the main ecommerce platform in Africa, has secured greater than Euro 300 million in funding from new and current traders, together with the beforehand introduced funding dedication from AXA, a worldwide chief in insurance coverage and asset administration.

This new spherical of funding is led by current buyers together with MTN and Rocket Web in addition to a brand new investor, Goldman Sachs. The funds will considerably strengthen the stability sheet of AIG enabling the corporate to leverage the numerous progress of Jumia and to capitalize on the numerous alternatives in Africa.

“This funding is a recognition of the success that Jumia has already achieved and offers us with a strategic flexibility to additional help our efforts to supply the most effective buying expertise to our prospects,” mentioned Sacha Poignonnec and Jeremy Hodara, founders and co-CEOs of Jumia and AIG. “We’re delighted to welcome AXA and Goldman Sachs as new buyers and are additionally grateful for the continued confidence from our current shareholders. To us, it’s a recognition of the standard of our operations throughout the African continent and an affirmation of the numerous development potential of Jumia.”

Jumia, the main ecommerce platform in Africa, intends to make use of the funds to help its continued development, and to execute on enticing growth alternatives in Africa together with AIG’s different ecommerce platforms.

“We’ve got been extraordinarily inspired by our partnership with the Jumia group, who’ve constructed the enterprise into one of many main ecommerce platforms in Africa”, mentioned Herman Singh, MTN Group Chief Digital Officer. “We consider that Jumia strongly reinforces our digital providing and we’ll proceed to assist the corporate with our data of the market”.

Oliver Samwer, CEO of Rocket Web: “From the very first funding in Jumia, we have now been constantly impressed by each the excessive-high quality administration crew and progress trajectory. We imagine that Jumia is a confirmed winner and that it’s going to proceed to be the main ecommerce platform in Africa.”

“We’re impressed by AIG’s pan-African operations and execution capabilities, and imagine the mixture of strategic companions and administration’s demonstrated experience uniquely place the corporate’s ecosystem to play a number one position within the improvement of Africa’s on-line economic system”, added Jules Frebault of Goldman Sachs.

Jumia, AIG’s fundamental subsidiary, at the moment current in eleven African markets, supplies the platform for native African companies to promote merchandise to the quick-rising base of African shoppers specifically to the quickly rising center class. Different actions of AIG embody Kaymu, a number one on-line purchasing group, in addition to main marketplaces in meals supply (Hellofood), journey (Jovago) and main classifieds operations in actual property (Lamudi), jobs (Everjobs) and automobiles (Carmudi).

About Jumia & Africa Internet Group

Jumia (www.jumia.com) is Africa’s main on-line purchasing vacation spot with a presence in eleven nations. Since launching in 2012, the corporate has remodeled the way in which that African customers store by providing them the chance to purchase every thing from trend gadgets to shopper electronics to house home equipment all on-line. Jumia is a component of a bigger ecosystem of firms supported by Africa Web Group (AIG), the main web platform in Africa with a community of firms together with Carmudi, Straightforward Taxi, Everjobs, hellofood, Jovago, Jumia, Kaymu, Lamudi, Vendito and Zando throughout 23 African international locations.

About the MTN Group

Launched in 1994, the MTN Group is a number one rising market operator, connecting subscribers in 22 nations in Africa, Asia and the Center East. The MTN Group is listed on the JSE Securities Change in South Africa beneath the share code: “MTN.” Go to us at, www.mtnbusiness.com and www.mtn.com

About Rocket Internet

Rocket’s mission is to develop into the world’s largest Internet platform exterior of america and China. Rocket identifies and builds confirmed Internet enterprise fashions and transfers them to new, underserved or untapped markets the place it seeks to scale them into market main on-line firms. Rocket is concentrated on on-line enterprise fashions that fulfill primary client wants throughout 4 predominant sectors: ecommerce, marketplaces, journey and monetary expertise. Rocket began in 2007 and has now greater than 30,000 staff throughout its community of corporations, that are lively in additional than one hundred ten nations throughout six continents. Rocket Web SE is listed on the Frankfurt Inventory Change (ISIN DE000A12UKK6, RKET). For additional info go to www.rocket-web.com.

About Goldman Sachs

The Goldman Sachs Group, Inc. is a number one world funding banking, securities and funding administration agency that gives a variety of monetary companies to a considerable and diversified shopper base that features companies, monetary establishments, governments and people. Based in 1869, the agency is headquartered in New York and maintains workplaces in all main monetary facilities all over the world.