Jumia Technologies raises $50M to expand African e-commerce

Jumia Technologies AG has raised $50 million in fresh equity to support its transition toward profitability and the expansion of digital commerce infrastructure across Africa. The funding round was led by the International Finance Corporation (IFC), the private-sector arm of the World Bank Group, which committed $25 million. Other investors, including Axian, contributed the remaining $25 million.

The capital injection follows a second-quarter 2026 report showing revenue growth of 14% year-over-year to $52 million and a 23% increase in gross merchandise value (GMV) to $216.3 million. The company is shifting its strategy from aggressive pan-African expansion to focusing on eight core markets, having exited South Africa, Tunisia, and Algeria to prioritize unit economics and margin protection.

Jumia aims to achieve adjusted EBITDA break-even and positive cash flow by the fourth quarter of 2026, with full-year profitability targeted for 2027. The IFC investment is expected to assist approximately 60,000 local sellers, support 1,800 direct jobs, and create opportunities for over 100,000 independent sales agents by strengthening the company’s integrated marketplace and logistics networks.