African e-commerce company Jumia has secured $50 million in fresh equity from investors led by the World Bank’s International Finance Corporation, giving the loss-making retailer additional financial firepower as it pushes towards its first profitable year.
IFC is investing $25 million, while Axian, one of Jumia’s largest existing shareholders, and other investors are providing another $25 million, according to regulatory filings released on Wednesday.
The fundraising comes at a pivotal point for Jumia, which has spent years burning cash while attempting to build an e-commerce business across some of Africa’s most difficult retail and logistics markets.
After shutting operations in several countries, cutting costs and narrowing its focus, the company now says it expects to reach adjusted EBITDA breakeven and positive cash flow in the fourth quarter of 2026, before achieving full-year profitability and positive cash flow in 2027.
The new capital gives Jumia more room to pursue that target. At the end of June, Jumia’s liquidity position stood at $48.3 million, down from $62.6 million at the end of March. The company used $11.8 million in operating cash during the second quarter.
