Africa Internet Group (AIG) which owns online retailer Jumia and 9 other e-ventures will receive $83 million from AXA Insurance in exchange for 8% equity stake. “AXA see us as a great partner to accelerate distribution of insurance products in Africa,” AIG CEO Sacha Poignonnec told TechCrunch.
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Axa invests $83 in Nigerian e-commerce startup and plans to distribute insurance products
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“We have a solid ecommerce vertical across things like retail, travel, real estate…and cars. First, we’ll use the investment to strengthen…our existing businesses. Longer term we’ll look at launching new African companies and services and entering new countries.” Poignonnec said AIG would start operating in DRC this year. Owned by Germany’s Rocket Internet, AIG’s startup network includes online platforms across hotel (Jovago), fashion (Zando), employment (Everjobs), real estate (Lamudi), and transportation (EasyTaxi) services.
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