JUMO, a know-how startup firm constructing next-generation monetary companies for rising market entrepreneurs, at present introduced it has raised$55 million in debt and fairness funding to assist its enlargement into new markets and the launch of latest merchandise. The funding spherical launched new buyers to affix present buyers corresponding to Goldman Sachs, Odey Asset Administration and Leapfrog Investments.
Based in London in 2015, JUMO is a full know-how stack for constructing and operating monetary companies. We allow our companions to supply next-generation financial savings, lending and insurance coverage merchandise to entrepreneurs in rising markets. These give anybody with a cellular phone and cell pockets entry to unprecedented monetary alternative, in order that tens of millions of individuals can prosper, construct their companies and develop. Since inception, JUMO has served over 15 million prospects and disbursed over US$1.eight billion in loans. JUMO has additionally partnered with monetary service suppliers and cell community operators to supply credit score and financial savings options to prospects.
Andrew Watkins-Ball, JUMO’s Founder & Group CEO mentioned: “I’m excited for our subsequent section. This backing will assist us construct a greater enterprise and break new floor. The robust vote of confidence, together with the world-class tech expertise we now have within the enterprise, means we will obtain distinctive outcomes for our companions and prospects.”
In November final 12 months, JUMO introduced having served over 15 million prospects throughout six markets in Ghana, Uganda, Kenya, Tanzania, Zambia and Pakistan. The corporate, which plans to enter Nigeria, Côte d’Ivoire and India this 12 months, has disbursed over US$1.eight billion since its founding in 2015.
