image : Jumia Group

Lagos, Nigeria based e-commerce company Jumia has filed for IPO on the New York Stock Exchange (NYSE), according to new SEC documents, confirming several reports of the company – last valued at $1 billion – looking to go public. According to the company’s IPO prospectus, its revenue for 2018 was €130.6 million in 2018, up from €94.0 million in 2017, but amid losses of €170.4 million in 2018, up from €165.4 million in 2017.

It says it had 4 million active customers as of December 31 2018, up from 2.7 million a year earlier. Its GMV (gross merchandise volume) in 2018 was €828.2 million. The Jumia Group is the leader in the African e-commerce market, with 13 million packages handled in 2018. It operates in 14 countries, with access to a population of 700 million.

image : Jumia Group

In addition to e-commerce, it also operates a widely used payment service – Jumia Pay – and logistics network in Africa. According to Crunchbase data, it has raised nearly $800 million in total funding, from investors including Goldman Sachs, MTN, Rocket Internet, Orange, Summit Partners, AXA Group, Millicom Systems and CDC Group.

Other companies in the IPO train include Pinterest, Lyft, Uber, Slack, Airbnb, Postmates, Infor, Cloudflare and CrowdStrike.

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