Online classifieds platform, Jiji raises $21 million to expand its listings
Jiji, an online classifieds platform, boasting two million listings on its platform, has raised $21 million in Series C and C-1 financing from six investors, led by Knuru Capital, according to TechCrunch.
The funding, which brings its total capital raised to $50 million, would be used to increase the overall number of buyers, sellers and transactions on its site, as well as upgrade the platform to create more listings and faster matching in the area of real-estate, according to co-founder, Vladimir Mnogoletniy.
Why this matters: The African online classifieds market has been heating up in recent years with big players such as Ringier Africa (Jobberman, Brighter Monday and Cheki), Naspers (OLX, sold to Jiji in 2019) and recently Opera-backed OList having invested massively into the space. While Ringier appears to be the leading in the classifieds market in sub-Saharan Africa, Jiji seems to be a challenger and cash-laden debutants, OList (boasting over 1 million ad listings after three months of launch) would be hoping to dominate the market.