Africa Internet Group Secures €300M in Funding

AIG-logo (2)Africa Internet Group, the parent of ecommerce platform Jumia, and other Internet platforms operating in Africa, secured more than €300m in funding.

Backers included AXA (already announced here), MTN, Rocket Internet and Goldman Sachs.

The company intends to use the funds to strengthen its balance sheet and continue to grow Jumia and its other ecommerce platforms.

Founded in 2012, AIG operates Jumia, a platform for local businesses in 11 African markets to sell products to the African consumers, online shopping community Kaymu, food delivery marketplace Hellofood, travel marketplace Jovago, real estate classifieds platform Lamudi, job search platform Everjobs and car selling platform Carmudi, and others in 23 countries.



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