Nigeria-based online marketplace Jumia Technologies aims to secure $196 million in a U.S. initial public offering (IPO) of American depositary shares.
To date, Jumia has raised a total of $767.7 million in over four funding rounds.
The company, which in 2016 secured $404.4 million in Series C funding round, is a subsidiary of German internet company Rocket Internet SE and Luxembourg-based Millicom International Cellular S.A.
In 2018, Jumia’s revenues were $147.6 million up from $108.5 94 million the previous year.