Friday
July 20
2018

South African fintech JUMO secures first two commitments in new funding round

By Stephen Timm

SA fintech JUMO has secured equity funding from French development agency Proparco and Finnish development finance company Finnfund — the first commitments to a new funding round, the startup’s founder Andrew Watkins-Ball revealed yesterday.

The startup’s platform helps facilitates digital financial services such as credit and savings in emerging markets. The Finnish development took part in a A$24-million debt facility last year (see this earlier story).

In a call from London yesterday, Watkins-Ball told Ventureburn that the commitments from Proparco and Finnfund were secured six weeks ago. He declined to reveal the value of the funding, but said each of the organisations have taken a single-digit equity in return for the funding.

Photo courtesy of John Hogg.

Source: Ventureburn (link opens in a new window)

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Inclusive Fintech
Tags
DFS, digital finance, emerging markets, fintech, funding, mobile banking, South Africa, startups