JUMIA LANDS $50M FROM IFC, AXIAN IN EQUITY PUSH

Jumia Technologies AG closed a $50 million equity funding round led by the International Finance Corporation (IFC) and Axian, its biggest shareholder. The capital injection reinforces investor confidence in the African e-commerce operator as it pursues profitability. The IFC, a member of the World Bank Group, continues backing Jumia's expansion across Africa. Axian's participation underscores commitment from the company's principal stakeholder. The funding enables Jumia to strengthen operations, technology infrastructure, and market presence. Jumia operates in multiple African markets, offering e-commerce and digital payment services. The company has faced profitability challenges but maintains backing from major institutional investors. This round adds to previous financing efforts as Jumia works toward sustainable operations and positive cash flow.