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March 6, 2013 03:01 pm GMT
Rocket Internet, the e-commerce startup incubator started by the Samwer Brothers, is once again ramping up its operations in emerging markets. Today it is announcing that Jumia, an Amazon clonelaunched last year in Africa, has received a 20 million ($26 million) investment from Summit Partners. Jumia is already active in Nigeria, Egypt and Morocco, and the company says that it will be using the new funds to expand to more countries in the region, as well as grow its business in current markets.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/3BGR-YRle8Q/
Summit Partners Puts $26M Into Samwer Brothers African Amazon Clone Jumia
Rocket Internet, the e-commerce startup incubator started by the Samwer Brothers, is once again ramping up its operations in emerging markets. Today it is announcing that Jumia, an Amazon clonelaunched last year in Africa, has received a 20 million ($26 million) investment from Summit Partners. Jumia is already active in Nigeria, Egypt and Morocco, and the company says that it will be using the new funds to expand to more countries in the region, as well as grow its business in current markets.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/3BGR-YRle8Q/
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