Jiji raises $21M for its Africa Online Classifieds Business
Online classifieds company, Jiji, has raised $21 million in Series C and C-1 financing from six investors, an emerging report from the company has revealed.
The funding, which was led by Knuru Capital, will see the Nigerian based venture expand its frontiers.
With an existing presence in Ghana, Uganda, Tanzania, and Kenya; Jiji has fast become the African market place where vendors can buy and sell commodities and facilitate payment transactions.
This new $21M funding makes it a total of $50M raised by Jiji between 2014 and 2019.
Recall that earlier this year, Jiji acquired one of its home-based competitors – OLX to expand its overall controlled asset.
“We are the largest marketplace in Africa where people can sell pretty much anything…We are like a combination of eBay and Craigslist for Africa,” Mnogoletniy told TechCrunch on a call.
Jiji plans to use the latest investment toward initiatives to increase the overall number of buyers, sellers and transactions on its site. The company will also upgrade the platform to create more listings and faster matching in the area of real-estate, according to Mnogoletniy.