The announcement places Julaya among the first digital finance providers in Francophone West Africa to re-emerge from a regulatory freeze that has paralysed the region’s fintech sector since the beginning of May.
Jumia’s liquidity position declined by $23.2 million in the quarter, leaving it with $110.7 million in cash and short-term deposits. At the current burn rate, the company has roughly five quarters of runway before needing additional funding.
In a market still defined by currency shocks, regulatory overhauls and capital flight, getting a lead investor on board is often the difference between a round closing — or stalling.
The acquisition of Qora71 is part of a wider trend in the Middle East’s startup capital markets: the layering of digitally enabled, community-driven funding models onto regulated investment platforms.
The deal reflects Amazon’s execution of a right first agreed in May 2022, when the U.S. tech giant secured an option to buy $10 million worth of global depositary receipts convertible into equity in ValU — contingent on a qualified offering event, such as today’s listing.
Despite the proliferation of fintech, e-commerce, and logistics platforms across Africa, a lack of formal addresses remains a blind spot in infrastructure.
The acquisition of Qora71 is part of a wider trend in the Middle East’s startup capital markets: the layering of digitally enabled, community-driven funding models onto regulated investment platforms.
The deal reflects Amazon’s execution of a right first agreed in May 2022, when the U.S. tech giant secured an option to buy $10 million worth of global depositary receipts convertible into equity in ValU — contingent on a qualified offering event, such as today’s listing.
