Africa Internet Group, the company behind Jumia, Kaymu, HelloFood, Jovago, EverHobs, Lamudi and other Internet based companies has raised €225m in one of the biggest fundraising rounds.
The investment came from the investment bank Goldman Sachs, MTN, and Rocket Internet.
Africa Internet Group was founded in 2012, and has created over 70 different companies across 26 African countries.
Mr Sacha Poignonnec, Africa Internet Group’s co-chief executive revealed that the latest investment will primarily be used to improve operations in existing markets and to expand into more countries.
He singled out the Democratic Republic of Congo as one of the countries where the company will enter soon.
At the moment, the group is not yet profitable but they are aiming to be “profitable in the next three years,” according to Poignonnec.