Investment firm Tiger Global Management has helped South African online retailer Takealot.com raise more than $100 million for its Africa expansions.

According to a statement, the money raised is expected to help Takealot continue its expansion plans both in South Africa and sub-Saharan Africa.

"We are very excited about Tiger Global's continued support of the business. This will allow us to accelerate growth and drive scale while continuing to delight our customers. We have tremendous potential in a large sustainable market and we are excited to keep investing for the long-term," said Kim Reid (pictured), takealot.com chief executive officer.

Takealot.com sells locally supplied and imported books, DVDs, music, games, electronics and toys including delivery.

Meanwhile, Tiger Global Management's public equity funds focus on long-term trends in the technology, telecom, media, retail and consumer sectors.

The firm has also invested in some of the leading online retail companies globally, including in India, China and Brazil.

Lee Fixel, partner at Tiger Global Management added, "We have been impressed with takealot.com's execution since our initial investment in 2010 and believe the company is establishing a strong leadership position in South Africa and sub-Saharan Africa. Takealot.com delivers a great customer experience, and we support its aggressive growth strategy."