Jumo, a technology company building next-generation financial services for emerging market entrepreneurs, raised US$55m in debt and equity funding.
The round introduced new investors to join existing investors such as Goldman Sachs, Odey Asset Management and Leapfrog Investments.
The company intends to use the funds for expansion into new markets and for the launch of new products. Led by Andrew Watkins-Ball, Founder & Group CEO, Jumo is a full technology stack for building and running financial services. It enables partners to offer next-generation savings, lending and insurance products to entrepreneurs in emerging markets. Since inception, the company has served over 15 million customers across six markets in Ghana, Uganda, Kenya, Tanzania, Zambia and Pakistan and disbursed over US$1.8 billion in loans. The company plans to enter Nigeria, Côte d’Ivoire and India this year.
FinSMEs
27/02/2020