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.
“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,” Mnogoletniy told TechCrunch on a call.
The classifieds site has two million listings on its Africa platforms and hit eight million unique monthly users in 2018, per company stats.
Jiji sees an addressable market of 400 million people across its operating countries, according to Mnogoletniy. The venture bought up one of its competitors in April this year, when it acquired the assets of Naspers-owned online marketplace OLX in Nigeria, Ghana, Kenya, Tanzania and Uganda.
Jiji’s top three categories for revenues and listings (in order) are vehicle sales, real estate and electronics sales (namely mobile phones).
With the recent funding, the company’s total capital raised from 2014 to 2019 comes to $50 million. Knuru Capital CEO Alain Dib confirmed the Abu Dhabi-based fund’s lead on Jiji’s most recent round.
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