March 2, 2016 IBOMLLC Team

MTN, Rocket Internet, AXA & Goldman Sachs Fund Leading E-Commerce Company Africa Internet Group

MTN, Rocket Internet, AXA & Goldman Sachs Fund Leading E-Commerce Company Africa Internet Group

Innov8tiv
Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

Africa Internet Group, parent of Jumia the leading ecommerce platform in Africa, secures over $325,815,000 of funding from MTN, Rocket Internet, AXA and Goldman Sachs

Africa Internet Group (“AIG”), the parent of Jumia, the leading ecommerce platform in Africa, has secured more than $300 million in funding from new and existing investors, including the previously announced funding commitment from AXA, a worldwide leader in insurance and asset management. This new round of investment is led by existing investors including MTN and Rocket Internet as well as a new investor, Goldman Sachs. The funds will significantly strengthen the balance sheet of AIG enabling the company to leverage the significant growth of Jumia and Hellofood and to capitalize on the significant opportunities in Africa.

“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,” said Sacha Poignonnec and Jeremy Hodara, founders and co-CEOs of Jumia and AIG. “We are delighted to welcome AXA and Goldman Sachs as new investors and are also grateful for …read more

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