Less than a year after it raised UISD10 million in Series A equity funding, Konga.com, an eCommerce sit that promotes itself as the largest online mall in Nigeria has just received Series B funding from Kinnevik and Naspers.
It would be recalled that in February, Kinnevik and Naspers invested in the company. The first foreign investment received by a Nigerian-owned eCommerce company.
According to available records, this funding is the largest to be raised by a Nigerian tech startup. Konga is expected to use the funding to accelerate its growth. It has already launched Konga Mall. Konga is battling Jumia, its competitor funded by Rocket Internet.