Jiji Acquires Bikroy, Expands International Footprint

In a significant strategic maneuver, online marketplace operator Jiji has completed its first acquisition outside the African continent, purchasing Bikroy, the leading classifieds platform in Bangladesh. This move signals a new chapter for the Lagos-headquartered company, which has historically focused its expansion efforts within Africa.

The transaction marks Jiji's second acquisition from Saltside Technologies, a Swedish investment firm backed by entities including Kinnevik, Hillhouse Capital, and Brummer & Partners. Previously, Jiji acquired Saltside's Ghanaian platform, Tonaton, in 2022. This latest deal underscores Jiji's established strategy of entering markets, building a competitive presence, and then consolidating its position through acquisition.

While the financial terms of the Bikroy acquisition remain undisclosed, Jiji CEO Anton Volianskyi indicated that the deal was financed through internal capital and shareholder backing. This acquisition follows Jiji's organic entry into Bangladesh in March 2025, where it directly challenged established players like Bikroy, Daraz, and Ajkerdeal. The swift consolidation, just thirteen months after its market entry, highlights the effectiveness of Jiji's competitive playbook.

Jiji's expansion into Bangladesh is a departure from its previous narrative, where co-founder Vladimir Mnogoletniy suggested in 2021 that the African market was largely consolidated, limiting acquisition opportunities. The acquisition of Bikroy, coupled with the earlier purchase of Tonaton, demonstrates Jiji's proactive approach to identifying and securing leadership positions in promising markets, even if they lie beyond its traditional geographic focus. The company now reports serving over 90 million annual users and processing $70 billion in annual gross merchandise value across its platform.

The acquisition of Bikroy, which boasts over 10 million app downloads since its 2012 inception and serves more than 400,000 monthly buyers and 100,000 monthly sellers, is expected to preserve the existing brand. Jiji views the Bangladeshi market as possessing strong structural fundamentals, aligning with its operational model for achieving category leadership. This strategic expansion into South Asia, rather than a broad Asian rollout, suggests a market-by-market evaluation approach.

This deal also impacts Saltside Technologies, which has now divested two of its three major operating platforms, Tonaton and Bikroy. Its remaining significant asset is Ikman in Sri Lanka. The acquisition of Bikroy by Jiji is a notable event in the global classifieds sector, reflecting ongoing consolidation and the strategic internationalization of prominent e-commerce players.