Less than a decade ago IPOs, acquisitions, and global expansion by African startups were more possibility than reality.
The venture became the first African startup unicorn in 2016, achieving a $1 billion valuation after a funding round that included Goldman Sachs, AXA and MTN.
Founded in Lagos in 2012 with Rocket Internet backing, Jumia now operates multiple online verticals in 14 African countries.
There’ll be a lot more to cover, analyze, and debate pre and post Jumia’s NYSE bell toll—which could happen in coming weeks or months.
Collectively, these moves represent a pivot for OneFi away from operating primarily as a digital lender, toward becoming an online consumer finance platform.
Through its Visa partnership, OneFi will also offer clients virtual Visa wallets on mobile phones and start providing QR code payment options at supermarkets, on public transit, and across other POS points in Nigeria.