JUMO Valuation, Funding & Investors
JUMO is valued at $400M as of November 2021.
Last JUMO valuation
$400M
Undisclosed stage · Nov 2021
Last JUMO funding round
$120M
Undisclosed stage · Nov 2021
Cumulative funding JUMO raised
$296M
across 6 funding rounds
Key investors in JUMO
LeapFrog Investments
Goldman Sachs
Odey Asset Management
Fidelity
Visa
Kingsway Capital
About JUMO
JUMO is a Cape Town-headquartered fintech platform enabling lenders and banks to extend credit, savings, and insurance to underserved consumers in Africa and Asia. Operating in 15 countries including Kenya, India, and Indonesia, it assesses creditworthiness using machine learning on telco and alternative data for 20 million customers. JUMO partners with MTN, Airtel, and Standard Bank, providing APIs for loan origination, collections, and analytics dashboards. The company launched in 2015 and expanded via acquisitions like Branch's lending arm.
Founded
2015
HQ
Cape TownWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$400M (Nov 2021)
JUMO Valuation
JUMO is currently valued at $400M, based on its undisclosed-stage round in November 2021.
The $120M round was led by Fidelity, with participation from Juven, Visa and Kingsway Capital.
JUMO valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Nov 2021 | Undisclosed stage | $400M |
JUMO Funding History
JUMO has raised a total of $296M across 6 funding rounds.
JUMO's first fundraising round was a $18M Series A in October 2015. The most recent completed round was a $120M undisclosed-stage round in November 2021.
JUMO funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2021 | Undisclosed stage | Fidelity (lead); Juven; Visa; Kingsway Capital | $120M | $400M | JUMO, a London- and South Africa-based fintech founded in 2015, provides next-generation banking infrastructure and AI-powered lending services to emerging market entrepreneurs and small businesses across Ghana, Uganda, Kenya, Tanzania, Zambia, Côte d’Ivoire, and Pakistan. Its platform includes core banking, underwriting, KYC, fraud detection, and an AI processor called Unify that reduces lending costs and risks. The company raised $120 million in an equity round on November 8, 2021, led by Fidelity Management & Research Company LLC, with participation from Visa and Kingsway Capital, bringing total funding to approximately $200 million from prior investors like Leapfrog, Goldman Sachs, Finnfund, Proparco, Vostok Emerging Finance, and Brook Asset Management. The round valued JUMO at $400 million post-money, according to reports citing The Times. Proceeds will scale platform capacity, expand SME financial products including longer-term lending for merchants and enterprises, and support market entries in Nigeria and Cameroon. JUMO has disbursed over $3.5 billion in 120 million loans to more than 18 million customers, with current annual lending capacity at $29 billion based on eMoney subscribers, projected to reach $40 billion in 2022. JUMO emphasizes predictable profitability for bank partners, with bank capital deployed or AUM on the platform up 160% in the prior two years, and operational costs reduced to $1 per customer annually. This positions it to address a total addressable market of 150 million customers while serving as a benchmark for transparency and control in emerging markets fintech. Fidelity's investment marks its first in an African company and emerging markets fintech. |
| Feb 2020 | Series C | Goldman Sachs (lead); LeapFrog Investments; Odey Asset Management | $30M | - | JUMO is a fintech company founded in 2015 by Andrew Watkins-Ball, headquartered in Cape Town with operations in multiple global hubs including Nairobi, Delhi, London, Mumbai, Porto, and Singapore. It provides a technology stack enabling partners like mobile network operators and financial institutions to offer savings, lending, and insurance products to underserved customers in emerging markets such as Ghana, Kenya, Tanzania, Uganda, Zambia, and Pakistan. The platform features an advanced data engine and end-to-end banking technology for ultra-lean financial services at reduced costs. In February 2020, JUMO raised $55 million in a mix of $30 million equity and $25 million debt from new and existing investors including Goldman Sachs, Odey Asset Management, and LeapFrog Investments. This marked the company's ninth funding round, bringing total capital raised to approximately $146-150 million, following a $64.5 million raise in late 2018 also involving Goldman Sachs and Odey. The funds were earmarked for expansion into new African and Asian markets like Bangladesh, India, Côte d'Ivoire, and Nigeria, as well as launching new platform features and products to enhance partner and customer interactions. At the time, JUMO had served over 15 million customers and disbursed more than $1.8 billion in loans through partnerships with entities like Telenor Microfinance Bank in Asia and telcos such as Tigo, Airtel, and MTN in Africa. The company positioned itself to drive financial inclusion for entrepreneurs by leveraging data to predict financial behavior and offer tailored credit, savings, and insurance solutions. This 2020 raise preceded a later $120 million round reportedly at a $400 million valuation led by Fidelity and Visa, which supported further scaling, international growth into Nigeria and Cameroon, and expanded lending options for SMEs, bringing total funding to about $200 million. |
| Sep 2018 | Undisclosed stage | Goldman Sachs (lead); Proparco; LeapFrog Investments; Gemcorp; VEF; Finnfund | $52M | - | JUMO is a South African fintech company founded in 2014 that provides a technology platform using behavioral data from mobile devices to enable financial services like credit and savings for underserved individuals and small businesses in emerging markets, primarily in Africa with expansion plans to Asia. The company partners with banks and mobile money operators to originate loans and manage customer interactions, having helped over nine million people save or borrow by 2018, with about 70% being micro and small business owners, originating more than $700 million in loans and handling over 25 million customer interactions monthly. In September 2018, JUMO closed a $52 million equity funding round led by Goldman Sachs, with participation from new investors Proparco (French Development Agency's private sector arm) and Finnfund, alongside existing backers Vostok Emerging Finance (noted as VEF), Gemcorp Capital, and LeapFrog Investments. This round brought JUMO's total funding to $90 million at the time, following prior debt facilities including $6 million from Finnfund and an $18 million loan facility the previous year. The funds were earmarked for expanding into new markets across Africa (such as Kenya, Uganda, Tanzania, Rwanda, Ghana, Zambia) and Asia (with an office opened in Singapore), enhancing platform capacity, partnering with more banks, and introducing new savings products. CEO Andrew Watkins-Ball highlighted the endorsement from Goldman Sachs, emphasizing technology's role in financial inclusion for those building wealth. JUMO's platform operates as a scalable PaaS with an advanced data engine and banking technology stack, enabling cost-effective services for unbanked populations via mobile phones. By 2018, it had offices in multiple countries including South Africa, the UK, and Singapore, with around 350 staff. |
| Jan 2017 | Series C | LeapFrog Investments; Goldman Sachs; Odey Asset Management | $65M | - | - |
| Sep 2016 | Series B | - | $12M | - | - |
| Oct 2015 | Series A | LeapFrog Investments (lead) | $18M | - | - |
Who has invested in JUMO?
11 investors have backed JUMO across its funding rounds, including LeapFrog Investments, Goldman Sachs, Odey Asset Management, Fidelity, Visa and Kingsway Capital.
Lead investors include Fidelity, Goldman Sachs and LeapFrog Investments.
JUMO Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Johannesburg | 4 | Lead | Oct 2015 | |
 New York City, NY | 3 | Lead | Jan 2017 | |
 London | 2 | Participant | Jan 2017 | |
| Boston, MA | 1 | Lead | Nov 2021 | |
 Hong Kong | 1 | Participant | Nov 2021 | |
| San Francisco, CA | 1 | Participant | Nov 2021 | |
 Paris | 1 | Participant | Sep 2018 | |
| London | 1 | Participant | Nov 2021 | |
| United Kingdom | 1 | Participant | Sep 2018 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialJUMO Competitors
JUMO competitors include listed companies like Value Line and Open Lending, and private ones like Enigma Technologies, Origin, Paradigm and Singularity.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| New York City, NY | Private | $23M | - | $400M | 17.4x | |
| Boston, MA | Private | - | - | $400M | - | |
 Singapore | Private | - | - | $400M | - | |
| Singapore | Private | - | - | $400M | - | |
| United States | Publicly listed | $33M | $29M | $372M | - | |
| United States | Publicly listed | $93M | $16M | $372M | 3.3x |
JUMO Public Comps
JUMO is still privately-owned, but its public comps include Enity Holding, Value Line, Open Lending, Commercial Facilities Kuwait, CION Invt, Menif Financial Services, HCR Co, CTOS Digital, Aye Finance and Finatext.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $133M | - | 8.2x | 6.7x | - | - | |||
| $33M | $29M | 8.5x | - | 10.0x | - | |||
| $93M | $16M | 3.5x | 3.3x | 21.0x | 13.8x | |||
| $56M | - | 14.8x | - | - | - | |||
| $127M | - | 11.9x | 7.3x | - | - | |||
| $176M | $81M | 8.4x | - | 18.3x | - | |||
| $75M | ($3M) | 3.3x | - | (84.3x) | - | |||
| $80M | $28M | 4.4x | 4.1x | 12.6x | 15.6x | |||
This data is available for Pro users. Sign up to see all JUMO competitors and their valuation data. Start Free Trial | ||||||||
Common questions about JUMO
| When was JUMO founded? | JUMO was founded in 2015. |
| Where is JUMO headquartered? | JUMO is headquartered in Cape Town, South Africa. |
| Is JUMO publicly listed? | No, JUMO is a private, VC-backed company. |
| What is JUMO's valuation? | JUMO was last valued at $400M in its undisclosed-stage round in November 2021. |
| How much funding has JUMO raised? | JUMO has raised $296M across 6 funding rounds. |
| What was JUMO's last funding round? | JUMO's last funding round was a $120M undisclosed-stage round in November 2021, led by Fidelity. |
| Who are JUMO's investors? | JUMO's investors include LeapFrog Investments, Goldman Sachs, Odey Asset Management, Fidelity, Juven, Visa, Proparco, Kingsway Capital, Gemcorp, VEF and 1 other. |
| Which companies are comparable to JUMO? | Companies comparable to JUMO include Enigma Technologies, Origin, Paradigm, Singularity, Value Line and Open Lending. |
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