Jumia – Facilitating Access to Products and Services in Africa

Jumia
Jumia facilitates access to products and services in Africa. Jumia connect customers and sellers to provide them with a solution to fulfill their daily aspirations.
Jumia was founded in 2012 on the basis of a very strong belief: Internet can improve people’s lives in Africa. Observing the challenges that people face every day (poor infrastructures, bad traffic, limited choice, limited information, expensive products and services just to name a few), we saw a huge opportunity to leverage the Internet and use it to connect people and provide them with a solution to fulfill their daily needs.
Over 500,000 local African companies are making business on Jumia every day. We are taking the entire economy online and enabling small, medium and large African companies to find new customers and serve them in a new way. Jumia Group operates various services like general merchandise and fashion e-commerce, C2C marketplace, food, travel, car classifieds, house classifieds, jobs classifieds and general classifieds.

Overview

Headquarters:     Lagos, Lagos
Description:         Jumia facilitates access to products and services in Africa.
Categories:            E-Commerce, Internet, Classifieds, Food Delivery, Shopping, Travel, Fashion
Website:                 https://group.jumia.com/

Jumia Companies

  • Jumia (e-commerce)
  • Jumia Market is a community-based online marketplace (formerly Kaymu)
  • Jumia Travel is a hotel booking website  (formerly Jovago)
  • Jumia Food is an online food ordering site  (formerly Hellofood)
  • Jumia House is a real estate platform (formerly Lamudi)
  • Jumia Cars is an online car dealer marketplace (formerly Carmudi)
  • Jumia Jobs is an online job platform (formerly Everjobs)
  • Jumia Deals is an online classifieds platform  (formerly Vendito)
  • Jumia Services is a B2B logistics provider for online commerce.

Company Details

Founded:          May 1, 2012
Aliases:              Africa Internet Group
Contact:             investor-relations@jumia.com
Employees:      1k – 5k

Why Jumia was Founded

In an interview with Daily Trust, Tunde explained how the business was conceived, saying:

Jumia Founders

“The Jumia story started with Raphael pretty much. He was already in Nigeria running an e-commerce venture, so he already sampled the market and knew that there was a big market here and he was thinking about doing something bigger. So he actually got in contact with some investors who were interested in investing in Nigeria. At the same time, I had heard he was working on something with these guys. I reached out to him and about ten days later I was in Lagos, working with Raphael on Jumia.
Now, the idea behind Jumia is very simple. We are in the largest country in Africa population wise, and we have the largest growing middle class. The amazing thing is that there is no real organized retail. If I wanted to buy a shirt or a phone or some shoes about a year ago, where do I go? There is no store that gives you a fantastic price whenever you want it.
You either go to a local market or your friend travels, or there are one or two malls here and there. But there is nothing that can provide the services you want wherever you were across the entire country. So we said to ourselves, ‘the market is huge, people will always need items, they are always going to need a phone or a shoe or a shirt no matter how rich or poor you are around the world. So why don’t we try and attract this market and provide a solution for Nigerians? ”

Funding

Date
Round
Amount
Lead Investor
Investors
Nov, 2014
Series C
$150M
MTN, CDC Group, Goldman Sachs, Orange, Orange, AXA Group, Rocket Internet, Millicom Systems, Summit Partners
Jun, 2013
Series B
$35M
Millicom Systems
MTN, Rocket Internet, Millicom Systems
Mar, 2013
Series A
$26M
Summits Partners
Rocket Internet, Summit Partners

Team at Jumia

Jeremy Doutte
CEO Jumia
co-CEO
Chief Executive Officer
Justin Irabor
Head of Marketing, Jumia Food
co-CEO

Other Helpful Resources


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