280658 180223121830 311 - Jiji, One Of Africa's Largest Online Marketplace Just Raised $21 Million In Funding
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Jiji, One Of Africa’s Largest Online Marketplace Just Raised $21 Million In Funding

One of Africa’s largest online marketplace Jiji has just raised a whooping $21 million in Series C and C-1 financing from investors, led by one Knuru Capital.

04094536 696x447 1403498860 - Jiji, One Of Africa's Largest Online Marketplace Just Raised $21 Million In Funding

Jiji is a Nigerian based venture that was co-founded by a Ukrainian entrepreneur who goes by the name Vladimir Mnogoletniy.

The company operates not only in Nigeria but from the East to West, meaning it has presence in countries like Ghana, Kenya, and Tanzania.

During a call to TechCrunch, Mnogoletniy said “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.”

In April this year, Jiji acquired one of it major competitors OLX. Jiji’s most proficient categories when it comes to orders includes, vehicle sales, electronic sales and real estate.

According to Jiji, they are gonna be using this latest funding to increase their total number of buyers and sellers on their site.

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Also they plan on upgrading the platform to make way for more listings and make real-estate matching more faster.

According to Mnogoletniy, I don’t think we’re gonna be seeing any acquisition anytime soon as they only want to focus on five markets, which are Nigeria, Ghana, Tanzania, Uganda, and Kenya.

Due to the high traffic they get in their real-estate area, Jiji uses some sort of automated process to do their verification, According to Mnogoletniy “We were able to eliminate a high-percentage of fraud listings and estimate fraud listings at less than 1%.”

Jiji is still gonna be up for the challenge as Africa is known to be one continent that experiencing some very high growth right now when it comes to smartphone and internet usage.

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Emmanuel
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