South African Fintech procures $ 120 million in financing rounds under the direction of Fidelity-FinTech

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Von: Krypto News Österreich

Jumo, a Fintech startup based in South Africa and London, recently announced that it collected $ 120 million in a financing round led by Fidelity Management & Research Company.

AI-based financial services

according to a from techcrunch also took the Financial service giant Visa and Kingsway Capital participate in the financing round, in which Jumo is now rated $ 400 million. This latest capital inflow takes place one year after the startup successfully applied $ 55 million in a similar but nameless financing round.

jumo, which was founded in 2015 by founder and CEO Andrew Watkins-Ball, claims to use AI to operate financial services, in particular lending in emerging countries, in which over 1.7 billion people have no fundamental access to financial services.

So far, the FinTech has reported more than 18 million customers in these markets provided loans worth over 3.5 billion US dollars and awarded up to 120 million individual loans. Although Jumo claims to have the opportunity to

The highly attractive loan platform from Jumo

In addition to the expansion to Nigeria and Cameroon, Jumo proposed to use part of the $ 120 million collected to improve and expand the offer to financial products for small and medium-sized companies. It also plans to provide long -term credit options for dealers and larger companies.

In their explanations after Jumo's latest round of financing, Melissa McSherry, Global Head of Risk and Identity Services at Visa:

The Jumo credit platform is highly attractive because it is scalable across the market and drives financial inclusion forward by creating access to credit for consumers and small companies.

MCSHERRY added that her company is enthusiastic about his investment in Jumo and is looking forward to accelerating the introduction of the Jumo platform in all markets and fulfilling the mission of Visa to help individuals, companies and economies.

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