Jovago gains new investor in a 75 million euros funding round

NAIROBI, KENYA:  This new major investor confirms Jovago’s strategy to expand its operations and local presence in Africa in order to reach and meet the needs of travelers.  

Axa is a world class player which is not only strong financially but also has a huge experience in investing in companies.  

Axa will invest Euro 75 million and own approximately 8 percent of the capital of AIG, Mother Company of Jovago. As a result, AXA will thus become a shareholder of AIG along with MTN, Rocket Internet and Millicom. 

“This new wave of funding of 75 million euros will help Jovago achieve the acceleration of its growth and development of its services across Africa in the coming years,” said Paul Midy, CEO of Jovago.  

“ It’s amazing for Jovago to partner with such a strong group as Axa who will allow us to strengthen our ability to build the first plateform for travellers in Africa. Jovago wants to break the barriers to travel and make travel more easy and affordable in Africa. The suppoer of AXA will be key to succeed. ” said Paul Midy, CEO Jovago. He continues by explaining that “since the funding is well-timed and the amounts invested significant, this makes for one of the top investments in the history of start-ups in Africa. It also strategically positions Jovaog and Africa Internet Group to further build e-commerce in Africa.”

This investment will allow AXA to build on the strength of AIG companies to further develop its acitivities. AXA will become the exclusive provider of insurance products and services through AIG.