Rocket Internet is steadily exiting its ventures in Africa, Asia and Middle East by selling out equity to new investors in venture groups it help start in partnerhip with Millicom and MTN.
Today, the firm sold an $85m (75 million-euro) just a few weeks after it signed up AXA and Goldman Sachs. The latest raise from Orange will help validate Rocket Internet as well as give the cash it needs to stay afloat.
This investment underscores Orange’s commitment to Africa, a high-growth territory where nearly one in ten inhabitants is an Orange customer, and confirms the Group’s determination to provide the best digital services to its customers.
Stéphane Richard, Chairman and CEO of Orange, stated: “We are particularly pleased to announce our entry into the capital of Africa Internet Group. With this strategic investment, Orange now has the capacity to play a leading role in the fast-growing e-commerce market in Africa. This acquisition is combined with the signature of several important partnership agreements that will create value for all parties.”
The firm said that the investment will enable it to significantly develop our ability to market products and services developed by Orange Middle East & Africa over the Internet.