Jumia Technologies Raises $99.6M to Fuel Growth

Jumia Technologies AG (JMIA) has released an update.

Jumia Technologies AG, a prominent African e-commerce platform, has successfully completed an at-the-market offering, raising $99.6 million in gross proceeds. The company plans to utilize these funds to bolster its balance sheet and support growth initiatives including customer acquisition, supplier base expansion, logistics network scaling, and technology enhancements for marketing and vendors. CEO Francis Dufay expressed satisfaction with the capital increase, citing its importance in Jumia’s pursuit of profitability.

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