Jumo
lending . online loans . sme financing
FOUNDING YEAR: 2014
LOCATION: South Africa
Last Update: 19/01/2021
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About
Jumo is a mobile money marketplace for African people, small businesses and mobile network operators. Jumo’s predictive modeling platform uses behavioral data from mobile usage to create financial identities for Small, Medium and Micro-sized Enterprises (SMMEs) and also connects investors with borrowers to determine the best rates and the best loan candidates. It helps mobile network operators grow their mobile money ecosystems by integrating financial services access for people and small businesses. The company is present in all the leading mobile money markets in Sub-Saharan Africa including Kenya, Tanzania, Zambia, Uganda, Rwanda and Ghana.
MEDICI Analysis
Jumo is a mobile money marketplace for African people, small businesses and mobile network operators. Jumo’s predictive modeling platform uses behavioral data from mobile usage to create financial identities for Small, Medium and Micro-sized Enterprises (SMMEs) and also connects investors with borrowers to determine the best rates and the best loan candidates. It helps mobile network operators grow their mobile money ecosystems by integrating financial services access for people and small businesses. The company is present in all the leading mobile money markets in Sub-Saharan Africa including Kenya, Tanzania, Zambia, Uganda, Rwanda and Ghana.
Focus
PRODUCTS & SERVICES
Mobile money marketplace for African people, small businesses and mobile network operators.
MAIN CLIENTS
Banks
Financial institutions
EXISTING PARTNERSHIPS
Partnered with mobile network operators
PRIMARY PROBLEM SOLVED
Today, over five billion people live on less than $10 a day. They cannot be reached by the traditional financial system as lack of data, infrastructure and broken unit economics have historically made it impossible or unviable. This chronic lack of access to good, simple financial services is totally unacceptable. It is at the root of poverty and the ability for people to improve their own lives. This is the challenge we are solving. We believe the answer lies in organizing information to democratize financial services. We see this as an incredible opportunity to build a very large business.
Traction
COMPANY TYPE:
For Profit
ACTIVE USERS COMMENT:
JUMO has served over 5 million people in Africa and Asia till now(Nov 2017).
People
FOUNDERS
Andrew Watkins-Ball
BOARD MEMBERS AND ADVISORS
Chris Pinkham
Nadeem Shaikh
NUMBER OF EMPLOYEES
201-500
INVESTORS:
Goldman Sachs Investment Partners
Finnfund (Finnish Fund for Industrial Cooperation Ltd.)
KEY EMPLOYEES:
Andrew Watkins-Ball (CEO); Nicholas Watkins (CFO)
Momentum
FUNDED
YES
NUMBER OF FUNDING ROUNDS
7
TOTAL FUNDING
$120 M
DATE OF LAST FUNDING
Feb 2020
IPO STATUS
Private
TOTAL FUNDING COMMENT
The company is planning to use the funds for expansion into new markets in Asia and Africa. (Sep. 2018)
ESTIMETED REVENUE RANGE
$1M to $10M
FUNDING SERIES
SERIES A · $13 M · Jul 2018
SERIES B · $52 M · Sep 2018
OTHERS · $55 M · Feb 2020
DEBT FUNDING
$24 M
PRIZE MONEY
$200 K
LISTED
NO
company provided insights
Web Traffic
MONTHLY VISITS
7,009
AVERAGE VISITS (6 MONTHS)
21,581.56
MONTHLY VISITS GROWTH
-79.62%
VISIT DURATION
487
VISIT DURATION GROWTH
105.89%
PAGE VIEWS VISIT
4.48
PAGE VIEWS VISIT GROWTH
32.68%
BOUNCE RATE
36.77%
BOUNCE RATE GROWTH
-36.89%
GLOBAL TRAFFIC RANK
1,513,306
MONTHLY RANK CHANGE
786,061
MONTHLY RANK GROWTH
108.09%
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Jumo
About
Jumo is a mobile money marketplace for African people, small businesses and mobile network operators. Jumo’s predictive modeling platform uses behavioral data from mobile usage to create financial identities for Small, Medium and Micro-sized Enterprises (SMMEs) and also connects investors with borrowers to determine the best rates and the best loan candidates. It helps mobile network operators grow their mobile money ecosystems by integrating financial services access for people and small businesses. The company is present in all the leading mobile money markets in Sub-Saharan Africa including Kenya, Tanzania, Zambia, Uganda, Rwanda and Ghana.
Focus
PRODUCTS & SERVICES
Mobile money marketplace for African people, small businesses and mobile network operators.
TOP PROBLEM SOLVED
Today, over five billion people live on less than $10 a day. They cannot be reached by the traditional financial system as lack of data, infrastructure and broken unit economics have historically made it impossible or unviable. This chronic lack of access to good, simple financial services is totally unacceptable. It is at the root of poverty and the ability for people to improve their own lives. This is the challenge we are solving. We believe the answer lies in organizing information to democratize financial services. We see this as an incredible opportunity to build a very large business.
PRODUCT DEVELOPMENT STAGE
V2.0 or BEYOND
PRODUCT DEVELOPMENT COMMENT
JUMO is a multi-sided platform that uses behavioral data to give customers great financial choices. The platform is integrated into the largest data ecosystems in the markets and provides the full stack of services normally found in a bank. Banks play an important role in holding licenses and managing extremely large balance sheets to compete to provide customers the best choices on the platform products.
PRIMARY CUSTOMER TYPE
Enterprise - Banks or Financial Institutions
Consumer
PRODUCT ATTRIBUTES
SaaS
Back Office
Customer facing
Traction
LIVE USERS/TRANSACTIONS:
Yes, in live production
CHANNEL STATUS
MULTIPLE CHANNELS
People
NUMBER OF EMPLOYEES
201-500
KEY EMPLOYEES:
employee: Andrew Watkins-Ball
employee: Andrew Watkins-Ball
employee: Andrew Watkins-Ball
BOARD MEMBERS AND ADVISORS:
Nadeem Shaikh
INVESTORS:
Momentum
FUNDED
YES
FUNDING COMPLETED
NO
LISTED
NO