E-commerce firm Jumia has raised USD35m from Millicom. Jumia says the investment will be split between its partners Hellofood, Vamido andKaymu. The online retailer sells a wide variety of goods that include from mobile phones, sunglasses, games consoles and cigarettes. The company, which launched last year, is based in Nigeria, but also active in Morocco and Egypt.
Jumia says the funding will be used to move the business to a new warehouse in Lagos, while also attempting to expand further in the domestic market. The firm claims to be the fourth largest website in Nigeria, with the financial backing arrive three months after a USD26m funding from Summit Partners.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.