Rocket Internet-backed Africa Internet Group, the company behind the e-commerce site Jumia, has announced that it has raised 300 million euros ($326 million) in fresh funding from U.S. financial service company Goldman Sachs and others.
That sum includes that previously disclosed chunk of money from AXA, which valued the company at over $1 billion and making it Africa’s first tech unicorn, and participation from existing stakeholders MTN, an African mobile operator, and Rocket Internet as well as new backer U.S. financial company Goldman Sachs.
The company said that it has been consistently impressed by both the high-quality management team and growth trajectory from the very first investment in Jumia.
On August 7, 2014, Rocket Internet and PLDT entered into a strategic partnership to develop online and mobile payment products. PLDT invested 333 million euros (about $445 million) for a 10 percent stake in Rocket Internet, putting its valuation at about $4.5 billion.