<article>South African fintech startup JUMO has landed a $52-million funding round led by <a style="color: #000080;" href="https://www.dealstreetasia.com/tag/goldman-sachs/">Goldman Sachs</a> to fuel its expansion to Asia.</article>

South African fintech startup JUMO has landed a $52-million funding round led by <a style="color: #000080;" href="https://www.dealstreetasia.com/tag/goldman-sachs/">Goldman Sachs</a> to fuel its expansion to Asia.
The latest investment brings JUMO’s total fundraising to $90 million. Other investors include French development agency Proparco, Finnish development finance body Finnfund, Vostok Emerging Finance, Gemcorp Capital and LeapFrog Investments.
In an earlier statement in July, the startup behind Africa’s fastest growing inclusive mobile financial services marketplaces had said it had secured the first two commitments from Proparco and Finnfund.
JUMO’s CEO Andrew Watkins-Ball had then revealed that each of these organisations had taken a single-digit equity in return for the investment.
Watkins-Ball has relocated to Singapore to lead the company’s Asia expansion.
Launched in 2014, JUMO now has offices in Kenya, Uganda, Tanzania, Rwanda, Ghana, Zambia, Pakistan, United Kingdom, Singapore and South Africa.
“There is immense opportunity across Africa and beyond for JUMO to build on their successful track record developing digital marketplace infrastructure to offer mobile subscribers access to relevant financial products,” commented Jules Frebault, Executive Director at Goldman Sachs.
To date, JUMO has attracted 120 million mobile users to its platform. It has originated over $700 million in loans and manages over 25 million customer interactions per month.
Over two billion people in the world have limited or no access to essential financial services. Many of them live in emerging markets and are coming online for the first time via mobile. &#8220;These are the people JUMO is connecting with to provide great choices from leading banks. Given high feature phone usage in key markets as well as customer sensitivity to data costs, JUMO offers transactional capability via basic USSD, Web or App to allow broad-based access and usage of the platform and products,&#8221; the company said.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/japanese-fintech-startup-paidy-raises-55m-series-c-from-itochu-goldman-sachs-101863/">Japanese fintech startup Paidy raises $55m Series C from ITOCHU, Goldman Sachs</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/goldman-sachs-arm-looks-to-invest-in-fintech-start-ups-37176/">Goldman Sachs unit to invest in Indian fintech startups</a>

Other investors include French development agency Proparco, Finnish development finance body Finnfund, Vostok Emerging Finance, Gemcorp Capital and LeapFrog Investments.

Fintech firm JUMO raises $52m in Goldman-led round for Asia expansion

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Fintech firm JUMO raises $52m in Goldman-led round for Asia expansion

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief