Home / Knowledge / News / Apparel/Garments / African etailer Jumia bags €120mn in new round of funding
African etailer Jumia bags €120mn in new round of funding
02
Dec '14
African online retailer of fashion products, consumer electronics, home appliances to beauty products, Jumia said it has received a new round of investment amounting to €120 million.

“These investments, which were made by existing shareholders, strengthen the company's position as the leading online retailer in Africa,” Jumia said in a statement.

Jumia is part of Africa Internet Group (AIG), a leading Internet group in Africa with 9 companies in 26 countries.

AIG in turn is owned by three global experts in e-commerce and African markets; MTN, Millicom (Tigo) and Rocket Internet.

Over 1,500 people are employed by Jumia and over 3,500 people across Africa Internet Group’s network.

Jeremy Hodara, co-CEO of AIG said, “We very pleased with this show of confidence and consider this as recognition of the huge potential of e-commerce in Africa and the strong momentum of Jumia.”

Jumia had modest beginnings in a garage in Lagos, Nigeria in 2012. Within two years, Jumia built up its own logistics infrastructure, an entire warehouse and its own fleet of drivers.

In 2013, Jumia became the first African company to win an award at the World Online Retail Awards in Paris, where it was celebrated as the “Best New Retail Launch” of the year.

Now, with operations in 10 countries, Jumia is the largest e-commerce company in Africa and has more than doubled the amount of sales through its mobile and desktop applications in 2014.

With its marketplace platform for third-party merchants, Jumia offers an entry point for many international brands who are looking to enter or grow their presence on the African continent.

Jumia operates in Cameroon, Egypt, Ghana, Ivory Coast, Kenya, Morocco, Nigeria, Uganda, UK, and Tanzania. (AR)

Fibre2fashion News Desk - India


Must ReadView All

UK GDP growth to stay steady but subdued: CBI

Textiles | On 8th Dec 2017

UK GDP growth to stay steady but subdued: CBI

The gross domestic product (GDP) in the United Kingdom (UK) will grow ...

Amazon launches operations in Australia

Apparel/Garments | On 8th Dec 2017

Amazon launches operations in Australia

US online retail giant Amazon recently unveiled its business in...

Courtesy: G-III Apparel

Apparel/Garments | On 8th Dec 2017

Q3 FY18 G-III Apparel sales up 16% to $1.02 billion

For the third quarter of fiscal 2018, net sales of G-III Apparel...

Interviews View All

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Urmil Arya

Sushila International, a well established textile organisation established ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search