Konga.com, a flagship in Nigeria’s blossoming e-commerce scene, has recently achieved a significant financial milestone by securing a colossal $40 million in new venture funding. This marks the online platform’s largest funding round till date, reinforcing Konga’s status as a formidable force in Nigeria’s burgeoning ecommerce industry.
Echoing back to the startups’ financial strides, it’s worth remembering that in January, Konga reportedly netted a hefty $25 million in investments from prominent venture capitalists, Naspers and Kinnevik. The recent coup in funds proves the industry’s increasing confidence in the online retail giant.
Well-placed sources reveal that the newly acquired funds are allocated predominantly towards bolstering the company’s engineering department. This strategic move is aimed at enhancing Konga’s technological capabilities, thus enabling the company to better cater to Nigeria’s booming online marketplace. The past few years have indeed seen a surge in online activities in Nigeria, a trend I’ve detailed in my article published on last year’s Independence Day.
Given Konga’s continuous innovation and investment in technology, industry enthusiasts are anticipating more sophisticated, robust systems and expansive services from the esteemed online shopping platform. This would undoubtedly mark a new era of ecommerce in Nigeria, raising the bar for other players in the sector.
Rumours are also rife about other ecommerce heavyweights in Nigeria, such as Jumia and Kaymu, gearing up for similar fundraising endeavours. We’ll keep our eyes peeled and our ears to the ground, promising to update you with the latest news on this intriguing development as soon as we get wind of it.
This article was updated in 2025 to reflect modern realities.
Paul Balo is the founder of TechBooky and a highly skilled wireless communications professional with a strong background in cloud computing, offering extensive experience in designing, implementing, and managing wireless communication systems.
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