Online Nigerian Retailer JUMIA Raises $35 Million
JUMIA is an online retail company based in Nigeria that has raised $35 million in funding from Millicom. JUMIA is going to split the $35 million in funding between their partners Kaymu, Vamido, and Hellofood. JUMIA launched at Rocket Internet, which is a Germany based incubator launched by the Samwer brothers.
JUMIA plans on using the funding to expand in their domestic market and they have plans to move into a new 90,000 square foot warehouse that is located in Lagos. JUMIA recently turned one years old and they have hit over half a million customers in the country so far. JUMIA is the fourth largest Nigerian website.
“We started with three employees building up an e-commerce platform in Nigeria,” stated JUMIA co-founder Raphael Afaedor. “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.”
Around 500 of JUMIA’s employees are going to be placed at their warehouse in Lagos. It is unknown whether this will include new staff or existing staff. JUMIA’s e-commerce campus will be the largest in West Africa.
JUMIA recently launched a new partnership with MasterCard, which will make credit card payments safer for users. Along with the MasterCard partnership, JUMIA also signed deals with Intel, Nokia, and Dell as a way to give them access to exclusive products and reduced prices.
JUMIA is going to host an e-commerce conference where they will host several special fashion events and announce changes to their website. The changes includes new discounts and product partnerships.
JUMIA is active in Egypt and Morocco. They will likely expand into other regions very soon as a result of the funding.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry