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.
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.
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.
Jan. 18: Bonus Built in Africa episode: Town Hall meeting with Peter Salovey, President of Yale University
On March 25, 2021, Techpoint Africa will be hosting the brightest minds in decentralised finance/crypto at the Digital Currency Summit tagged “Building the money of the future” Click here for more details, registration and sponsorship. Location: Fourpoint by Sheraton, V.I. Lagos.