LAGOS, Nigeria — African e-commerce company Jumia has secured $50 million in new funding as the company continues its push towards profitability.
The company announced the new capital alongside its second-quarter 2026 results.
Jumia said its gross merchandise value — the total value of goods sold through its platform — reached $216.3 million in the second quarter, representing a 23% increase across its markets.
Nigeria stood out as one of the company’s strongest markets.
Jumia’s gross merchandise value in Nigeria increased by 36%, while orders rose by 34%, showing stronger consumer activity on the platform.
The company said its gross profit also increased by 28%, while its adjusted operating loss narrowed by 36%.
The new $50 million investment is expected to strengthen Jumia’s finances and support its plans for the second half of the year.
Part of the funding will be used to support working capital and improve operations as the company prepares for increased shopping activity during the final quarter of the year.
Jumia says it remains on track to reach adjusted EBITDA breakeven in the fourth quarter of 2026 and profitability in 2027.
The strong Nigerian figures are another sign that online shopping continues to gain ground in Africa’s largest economy.
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