CEO Weekends:Konga Reportedly Raises $25 Million Series B From Naspers & Kinnevik But Says Customer is Key

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 Ceo of Konga.com, Sim Shagaya

Founded July 2012, Nigeria’s Konga.com, an online shopping store has reportedly raised $25 million series B funding from Swedish’s Kinnevik and South Africa’s Naspers, its previous investors according to some media reports, but is downplaying it.

In a statement to media this morning, Konga said,

“Konga’s investors continue to support the business financially. They do so because they are pleased with the company we are building and the customers we are serving. Fund raising is not the objective of our business. Serving our customers is the ultimate objective and we are confident that so long as we do this consistently, our investors who are long term and highly strategic will continue to support us.”

Though the statement does not confirm how much the firm has raised, it confirms its has indeed had a cash inflow as the statement added,

“All of resources and energies are being put towards building out our team, deploying world class technological and logistics systems and achieving operational excellence in the Nigerian market in the short term.”

 Earlier, Bankole of TechCabal had reported this deal. We have contacted our friends at Konga and are waiting for their response even as some reports say the cash inflow is part of the earlier Kinnevik and Naspers $50 million deal into Konga. The two firms have invested $40 million into Konga.  Naspers acquired 50 percent of Konga in February 2013.
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