Summit Partners Invests in Jumia (Sub-Saharan Africa)

Source: Venture Beat  |  Author: Rebecca Grant

U.S.-based investment firm Summit Partners has invested US$26 million in Jumia, an online retailer based in Nigeria. Jumia sells a range of products in Nigeria, Egypt and Morocco, and the funding is intended to aid its expansion into additional African markets. Jumia was developed and launched by German incubator program Rocket Internet in 2012.