Jumia successfully completed its offering of 20.2 million ADSs, raising $99.6 million. CEO Francis Dufay emphasized that this capital will strengthen the firm’s balance sheet and accelerate growth.
With cash reserves of $92.8 million, Jumia's liquidity position decreased from $120.6 million in Q4 2023. However, CEO Dufay believes there's significant room to grow its active customer base.
Despite having 2 million quarterly active customers, Jumia operates in markets with over 600 million people, indicating substantial growth potential as it aims for profitability.
The e-commerce platform had previously demonstrated significant fundraising ability, raising nearly $600 million between 2020 and 2021, capitalizing on a capital-rich market.
Collection
[
|
...
]