MoboFree, a major mobile social marketplace in Africa has announced it has secured a significant undisclosed growth funding from Netherlands-based eVentures Africa Fund (eVA Fund), with participation from Million Monkeys, a seed investment company based in the Netherlands.
The marketplace’s co-founder and CEO, Neringa Kudarauskiene said with the new funding, the company would be able to expand its local presence in Lagos and Accra to East Africa.
She added that the fund would also be used to grow the platform’s marketing across the various African markets.
“This investment will allow us to continue and speed up our growth in sub-Saharan Africa and deepen our focus on delivering the most dynamic experience for our users,” she added.
The platform currently has more than 3 million registered users that generate about 65 million page impressions monthly on average as at February 2014.
