Kampala, Uganda– Africa Internet Group (“AIG”), the parent company of Jovago, the leading ecommerce platform in Africa, has secured more than Euro
300 million in funding from new and existing investors, including the
previously announced funding commitment from AXA, a worldwide leader in
insurance and asset management. This new round of investment is led by existing
investors including MTN and Rocket Internet as well as a new investor, Goldman
Sachs. The funds will significantly strengthen the balance sheet of AIG
enabling the company to leverage the significant growth of Jovago and to
capitalize on the significant opportunities in Africa.
“This investment is a recognition of the success that AIG has already
achieved and provides us with a strategic flexibility to further support our
efforts to offer the best shopping experience to our customers,” said Sacha Poignonnec and
Jeremy Hodara, founders/ co-CEOs of Jovago and AIG. “We are delighted to welcome
AXA and Goldman Sachs as new investors and are also grateful for the continued
confidence from our existing shareholders. To us, it is recognition of the
quality of our operations across the African continent and an affirmation of
the significant growth potential of AIG.”
Jovago,
the leading hotel booking site in Africa, intends to use the funds to support
its continued growth, and to execute on attractive development opportunities in
Africa along with AIG’s other e-commerce platforms.
“We are pleased to welcome our new
investor, Goldman Sachs, which is one of the most prestigious investment banks
in the world. This confirms that Africa Internet Group's growth trajectory is
seen as a big opportunity for investors to be part of the booming e-commerce
sector in Africa…” - Louis Badea, Country Manager Jovago Uganda
Since its
creation in 2013 by AIG and the opening of its first offices in Africa, Jovago
has been growing steadily. Its large inventory lists 25,000
hotels in over 40 African countries and 200,000 hotels worldwide. With its
ongoing success, Jovago aims to accelerate the innovation of its digital
services in the hospitality industry in emerging countries.
About Jovago
Jovago.com is an online hotel booking
service with offices in Kampala (Uganda) Lagos (Nigeria), Nairobi (Kenya),
Dakar (Senegal) and in 10 others countries in Africa and Asia, founded by
Africa Internet Group. Jovago.com, Africa’s No.1 booking portal, facilitates
the booking process for its users to provide them with the best hotel booking
experience with fast, transparent and easy-to-use services. Jovago.com has over
25,000 local hotel listings across Africa and over 200,000 hotels around the
world.
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