Online classifieds company, Jiji, secures $21 million in series C funding

by | Dec 10, 2019

In a series C funding round led by Knuru Capital, Nigeria-based classifieds company, Jiji, has raised $21 million.

Early in April this year the company acquired a major competitor in OLX, in the process establishing a presence in four other countries — Ghana, Kenya, Tanzania, and Uganda.

According to Ukrainian tech news site, AIN.UA, the deal was reported to be worth between $1.5 million and $3.4 million.

Making claims to be the largest online classifieds site in Africa, the company now has 2 million listings across Africa with 8 million monthly users as of 2018.

Advertisement

Crunchbase is said to have reported that the company raised undisclosed amounts in series A and B, however, TechCrunch reports that the recent series C funding makes it a total of $50 million raised by Jiji since 2014.

According to the co-founder, Vladimir Mnogoletniy, the Pan-African classifieds company plans to create more listings, upgrade the platform, and grow the number of transactions on its site.

In a classifieds market riddled with the challenges of low Internet penetration, high cost of Internet, and poor economic conditions, Jiji is still bullish even though it has seen a number of shutdowns occur over the past few years.


Suggested Read: Why general classifieds sites might not be so successful in Nigeria


However, over the next few years, it might face stiff competition from old players in Jumia Deals, Cars45, Ringier Africa and MallforAfrica; and new players like Opera’s newly-backed classifieds site, OList.

Tage Kene-Okafor
Tage Kene-Okafor

Endlessly amused by technology. @ulonnaya

Advertisement


Are you in tech and you are looking at getting a foreign remote job or you want to move abroad? Fill this form and you will get the BEST resources to help you get that high paying remote job as well as japa easily! WAGMI!

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Recent News

Kenya’s digital products for PwDs

Kenya’s digital products for PwDs

On #TechpointDigest, Victoria Fakiya (@latoria_ria) discusses what Jumia’s partnership with CGAP could mean, and Kenya’s digital products for people with disabilities.

Reclaiming stolen African artefacts

Reclaiming stolen African artefacts

On #TechpointDigest, Victoria Fakiya (@latoria_ria) discusses how Traction wants to stop fake alerts, Canza Finance’s journey, Esaal’s $1.7m seed round, and JABU’s $15m series A.

[PODCAST] Relooting African art with NFTs

[PODCAST] Relooting African art with NFTs

What do you think about an NFT project that wants to reclaim Africa’s lost artefacts? Well, the editorial team had some interesting thoughts, and you can listen to this and other stories on today’s episode of #TechpointAfricaPodcast.

$2 million to drive learning via WhatsApp 

$2 million to drive learning via WhatsApp 

On #TechpointDigest, we discuss how major players in the African mobility space can change the mobility narrative, FoondaMate’s $2 million funding, Twitter Create, and AMP’s $5.6 million seed round.

Subscribe to Techpoint Digest!

A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!

Please check your email to confirm your subscription.

Subscribe to Blockchain Explorer

Analysis oninnovation, regulations, and trends inthe blockchain sector, as it concerns Africa

Please check your email to confirm your subscription.

Subscribe to The Experts

A bi-weekly where tech career specialists take us on their journey from newbie to expert, and how they became successful in the industry.

Please check your email to confirm your subscription.

Subscribe to Founder's Table

A monthly series, where we catch up with founders in the startup ecosystem, learn about their failures, successes and a few tricks of the trade

Please check your email to confirm your subscription.

Copy link
Powered by Social Snap