Jiji Raises $21 million
Jiji, the online classified ecosystem in Africa, has raised $21 million. The interesting thing is that as Jiji does well, companies like Jumia will see more competition forces in their similar services. The most revealing thing as noted by Techcrunch is that Jiji has no plans to operate beyond Nigeria, Ghana, Kenya, Uganda and Tanzania over the next few years. That is key as I have noted here that Jumia should focus on about 5 countries where the opportunities are domiciled to gain competitiveness through improvements in marginal cost.
Pan-African digital classifieds company Jiji has raised $21 million in Series C and C-1 financing from six investors, led by Knuru Capital.
The Nigeria-based venture, co-founded by Ukrainian entrepreneur Vladimir Mnogoletniy, has an East to West presence that includes Ghana, Uganda, Tanzania and Kenya.
Buyers and sellers in those markets use Jiji to transact purchases from real estate to car sales