Jumia, Africa’s largest and fastest-growing e-commerce retailer with websites in Nigeria and in Egypt and Morocco, announced today that it has received an investment of €20 million from leading growth equity investor Summit Partners.
Summit Partners will take a stake in Jumia through its German holding company, and Jumia will use the funds to further growth in Africa.
Founded in 1984, Summit is a leader in growth equity and credit investing for rapidly growing companies. Summit Partners has invested in more than 365 growing businesses across North America, Europe and Asia, and has raised nearly US$15 billion since inception.
Managing Director and head of the Summit Partners London office Scott Collins, said Jumia has established itself as a fast-growing company early on, and we are pleased to partner with its management team.
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