Africa’s leading e-commerce company, Jumia, has secured $50 million in new equity funding as it enters a crucial phase in its long-standing effort to achieve profitability. Revenue reached $52 million in the second quarter of 2026, reflecting a 14% increase compared to the previous year. Additionally, Jumia’s adjusted EBITDA loss decreased by 36%, dropping from $13.6 million to $8.7 million compared to the same quarter last year. Similar read: Jumia ceases operation in AlgeriaThis reduction in losses is significant because Jumia is not solely relying on growth to overcome its financial challenges. The new $50 million funding is timely.