Jumia raises $35m in funding


Just after Jumia raised $26 million a few months ago, the African online retailer has raised $35 million in a fresh funding.

The company intends to use the proceeds to increase its leadership position in Egypt, Nigeria, Morocco, and Kenya and to expand to new countries.

The funding, secured from Millicom International Cellular S.A., a global telecommunications group, will be shared between Jumia and its partners Kaymu, Vamido and Hellofood.

Jumia.com offers products in several categories, including apparel, shoes, fashion accessories, electronics, household appliance, toys, and books.

The online retailer is also entering exclusive partnerships with high-profile technology companies such as Dell, Intel and Nokia, which will give the retailer access to exclusive products and some knock-down prices.

Jumia, which clocked one year over the weekend, is the fourth most visited website in the country.

“We started with three employees building up an e-commerce platform in Nigeria,” Raphael Afaedor, co-founder of Jumia.

“Now, we have more than 500 employees and offer Nigerian’s youth great opportunities to work in one of the leading e-commerce companies in Africa.

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