Jumia Technologies has raised $50 million in equity funding co-led by the International Finance Corporation (IFC) and Madagascar-based telecommunications conglomerate Axian Group to scale its logistics, digital payments, and e-commerce infrastructure across Africa. The transaction involves the issuance of over nine million new American Depositary Shares (ADSs) priced at $5.52 per share, providing the pan-African platform with fresh equity capital to accelerate its expansion into secondary and tertiary markets as well as sufficient runway to break even by year-end.
The financial commitment is anchored equally by both institutional partners, with the IFC and Axian each contributing $25 million. The IFC’s participation brings World Bank Group backing alongside rigorous environmental, social, and governance (ESG) standards aimed at fostering supply chain sustainability and economic inclusion. Axian’s parallel investment leverages the group’s extensive mobile network footprint across Africa, establishing a strategic bridge between telecommunications connectivity and online marketplace operations. Related News From Pitch to Court: Ronaldinho bids for AS Monaco basketball amid €10m investment plan CBN opens regulatory sandbox to VASPs, fintechs, data-driven financial services Jumia’s revenue rises to $52m as e-commerce platform secures $50m capital raise
