Konga Nigeria raises Funds from Naspers, Kinnevik

Nigeria’s online store Konga  already has made a secure start year funding, landing on an undisclosed amount investment from Naspers and Kinnevik.

“Our latest round of investment from Naspers and Kinnevik follows their previous investments and underlines their ongoing commitment to our business and the Nigerian e-commerce market,” said Shola Adekoya, Konga’s CEO.

This Investment fund will have Konga create a good customer experience on the product odering and deliverinig and also on business expansions. According to publicly available data South Africa’s Naspers and Sweden’s Kinnevik are the only investors in Konga so far,  in 2012 and 2014  both companies had invested US$78.5 million in the startup between 2012 and 2014.

“It’s the perfect way to start our fifth year of business and we look forward to benefitting from their continued support and expertise. Of course, neither Naspers nor Kinnevik are strangers to Nigeria, having been long-term investors in the country via successful businesses like Naspers’ MultiChoice.”  Shola Adekoya added