Takealot raises $100 million in funding

Takealot, one of South Africa’s largest eCommerce websites, has raised $100 million (just over R1 billion) from its major shareholder Tiger Global Management.

Tiger Global is a United States based investment firm which manages hedge funds and private equity funds.

Takealot, which was born after the acquisition and rebranding of Take2, was officially launched on 15 June 2011.

In January 2013 Takealot acquired a controlling stake in Mr Delivery, and rebranded the company to Mr D.

It is understood that the funds will be used to strengthen Takealot’s South African presence, and grow its presence in Sub-Saharan Africa.

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Takealot raises $100 million in funding