Jumia is an African online shopping site where people can purchase and browse through a wide range of electronics, fashion, home appliances, kid’s items and more. The business was founded in 2012 by co-founders Jeremy Hodara and Sacha Poignonnec. They are backed by Rocket Internet, Africa Internet Group and in partnership with MTN.

The aim was to mimic Amazon’s success by delivering a wide range of items, from clothes to electronics across Africa. Jumia is now operating in 10 countries including Nigeria, Egypt, Morocco, Kenya, Cote d’Ivoire and Uganda. Their biggest competitors are Konga in Nigeria and Souq in Egypt.

Jumia recently secured $150 million funding from their shareholders. It has increased the valuation of the company from about $265 million to more than $554 million. The goal is to use the additional fund to strengthen its position as the leading online retailer in Africa.

Jeremy Hodara, co-CEO of Africa Internet Group said: “We are very pleased to have been given this show of confidence, which acknowledges Jumia’s success. We consider this a recognition of the huge potential of ecommerce in Africa and the strong momentum of Jumia across the continent.”

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