JUMO, a fintech organisation operating in Africa and Asia has reached a milestone of 15 million users. This fintech company basically provides next-generation financial services for entrepreneurs in emerging markets.
It has been able to connect more than 15 million customers to savings and credits services in the 6 markets in which it is operating in both Africa and Asia. In these emerging markets where JUMO is operating, it has paid out over USD 1.6 billion in funding to its customers. As it continues to disburse capital to entrepreneurs, it is also growing its base of savings products.
The Founder & Group CEO of JUMO, Andrew Watkins-Ball, has remarked that the company’s new milestone shows that JUMO has a unique ability to reach underserved entrepreneurs. This he points as more than 60% of the entrepreneurs JUMO serves are from the micro, small and medium-sized enterprises (MSMEs).
He said: “We are working to connect every entrepreneur to the financial products they need to grow and prosper. Our technology enables our partner banks and payments companies to help millions of underserved people access financial services.”
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Watkins-Ball believes that when MSMEs are empowered, it creates a positive impact on their communities, families, and employees. He said, “By empowering MSMEs, we’re also positively impacting communities, families, and employees. Technology is removing barriers to financial inclusion making it possible to responsibly provide everyone with access to good financial choices.”
The CEO of JUMO concluded by adding that “Technology is at the heart of what we do. We run the fastest and leanest financial services infrastructure in emerging markets and we’re excited about the next phase of our growth.”
JUMO was founded back in 2015 in London. Since then it has partnered with a lot of financial service providers and mobile network operators to provide credit and savings solutions to customers. JUMO currently has operations in Ghana, Kenya, Pakistan, Tanzania, Uganda, and Zambia. The company plans to enter new markets in Asia and Africa in the coming months.