Some of Africa’s best funded ecommerce startups just secured more capital. Africa Internet Group (AIG)—which owns online retailer Jumia and 9 other e-ventures—will receive €75 million ($83 million) from Europe’s AXA Insurance in exchange for 8 an percent equity stake. AIG will use the funds to support all points of its business model aimed at expanding ecommerce services across Africa’s core economies. The investment buys AXA access to AIG’s expanding startup network. “AXA not only sees this as an opportunity to invest in a company that will bring financial returns, they also see us as a great partner to accelerate distribution of insurance products in Africa,” AIG CEO Sacha Poignonnec told TechCrunch.

http://techcrunch.com/2016/02/08/as-its-market-grows-nigerian-e-commerce-startup-africa-internet-group-raises-83-million/?utm_medium=email&utm_campaign=email&utm_source=cb_daily