Rocket Internet’s African e-commerce Jumia raises $ 26 million
The Rocket Internet engine might be sputtering a bit in Europe, but it’s apparently going very strong in the emerging markets. Rocket Internet’s Amazon clone for the African markets Jumia just announced a $ 26 million round from Summit Partners. Jumia is active in Nigeria, Egypt and Morocco, the biggest internet markets in Africa. The company also wants to roll out to other countries in the region.
Summit Partners already invested $ 26 million in Lazada (who comes up with these names?), another Rocket Amazon clone, but operating in the Brazilian market. The African market is growing fast, and the Samwers are clearly racing to become early (and big) players there. According to estimates, the African middle class will triple in size in the half century to about 1 billion people.
Here’s a graph showing internet use in Africa - I guess Rocket Internet looked at this same chart to decide where to roll out Jumia first:TechCrunch]
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