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IFC and investors provide $50M as Jumia narrows Q2 losses

Jumia logoJumia
Sig3.42Sen+6.46Env0.00Soc0.00Gov+0.58

IFC will invest $25 million and other investors, including Axian, add $25 million via regulatory filings. In the second quarter Jumia used $11.8 million in operating cash, revenue rose 14% to $52 million and GMV climbed 23% with gross profit up 28% to $30.7 million. Adjusted EBITDA loss narrowed 36% to $8.7 million and quarterly active customers reached 2.6 million.

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