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With this achievement, Razorpay gains a majority market share, making it India’s market leader in the business digital payments industry.
In 2023, Jumia revised its adjusted EBITDA loss guidance thrice: $100 million to $120 million in Q1; $90 million to $100 million in Q2; and $80...
In 2023, Jumia revised its adjusted EBITDA loss guidance thrice: $100 million to $120 million in Q1; $90 million to $100 million in Q2; and $80 million to $90 million in Q3, aiming for a 57% to 61% year-over-year reduction if met. It ended the year with $58.2 million in adjusted EBITDA loss, marking a 68% decrease from 2022, and Q4 concluded with less than $1 million in adjusted losses, a 99% decrease. Jumia’s operating loss decreased by 90% to $4 million that quarter and by 64% to $73 million for the entire year, leading to an improved liquidity position, closing the year with $121 m...
Investors have shown approval for Jumia’s cost-cutting measures throughout the year, with its share price rallying up to 35%.
The world of digital payments is witnessing a seismic shift, with PhonePe, Walmart's digital payments subsidiary, making waves by achieving a Total Payment Volume (TPV) of $1.3 trillion.