South African Fintech JUMO Raises $120M Round Led By Fidelity

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Cape Town based fintech startup JUMO has raised $120 million in a funding round led by Fidelity, bringing the total amount of (equity + debt) funding to over $260 million since inception. The round also witnessed participation from Visa and Kingsway Capital. Existing investors in the company who participated in previous funding rounds include Leapfrog, Goldman Sachs, Finnfund and Proparco.

Founded in 2015 by Andrew Watkins-Ball, JUMO is a Banking as a Service platform that uses AI to power financial services in emerging markets, and offers savings and credit products to entrepreneurs in emerging markets, as well as financial services infrastructure to partners such as eMoney operators, mobile fintech platforms and banks. 

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