Since its founding in 2014, Jumo has helped individuals and small businesses access savings and credit products through their mobile devices, focusing on Africa, as the adoption of mobile money has transformed the banking landscape.
Jumo has offices in Kenya, Uganda, Tanzania, Rwanda, Ghana, Zambia and the UK. By using behavioural data, the startup aims to help financial services providers and mobile network operators assess lending risk and tailor financial products to those living in developing countries, where credit information is scarce.
The investment with Goldman Sachs has brought Jumo USD 52 mln. Since 2014, about 9 mln people have saved or borrowed using Jumo technology. The platform has originated over USD 700 mln in loans and manages over 25 mln customer interactions per month.
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