Rocket Internet has sold its stake in ecommerce company Jumia

German venture builder Rocket Internet has sold its stake in African ecommerce company Jumia. This, according to a report last week by Reuters.

Quoting Bettina Curtze, Rocket Internet’s head of finance and investments, Reuters said the investment firm sold its share between 8 November, when it held an 11% stake in the company, and the onset to the coronavirus.

It said Curtze declined to reveal what proceeds Rocket Internet — lead by CEO Oliver Samwer (pictured above) — made from the sale, but said they were included in the 2.1 billion euros ($2.3-billion) of net cash the company had as of 31 March.

Rocket Internet has sold its stake in Jumia sometime between November and March this year

Jumia invested on the New York Stock Exchange in April last year (see this story) and its shares have slid since then.

Rocket, said Reuters, still holds stakes in furniture site Home24 and Global Fashion Group, which sells fashion online, plus stakes in more than 200 private companies. The total fair value of those private companies was about 1.1 billion euros as of December 31.

Read more: Jumia raises $196m in New York Stock Exchange IPO

Featured image: Rocket Internet CEO Oliver Samwer (Supplied)