South African fintech startup Jumo has announced that it has served 20 million customers since it was founded 7 years ago.
Founded by CEO Andrew Watkins-Ball in 2015,JUMO, a banking-as-a-service platform, claims to leverage artificial intelligence to power financial services, notably lending in emerging nations.
JUMO provides core solutions around savings, loans, and infrastructure to banks, fintechs, and eMoney operators to address these constrained demands in both markets.
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MTN, Airtel, Tigo, Ecobank, Absa, Letshego, Mansa Bank, and Telenor are among its partners. The startup has offices in Nairobi, Porto, and London, in addition to its headquarters in Cape Town.
According to a recent statement from JUMO, the company’s Singapore office has closed.
However, in terms of active operating markets, the fintech is present in six African countries: Ghana, Tanzania, Kenya, Uganda, Zambia, Ivory Coast, and Pakistan.
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“Thank you to the 20 million customers we’ve served!,” the company announced in a statement. “You have helped us refine our credit prediction skills and reduce the cost of lending risk to as little as 3%. You’ve also helped us create a data analysing learning machine, so we can provide banking services at a fraction of standard costs, with proven product-market fit. You are the reason we are, and will always remain, mission-driven and financial inclusion focused.”
JUMO customers JUMO customers
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh