Jumo launched in and it specializes in social impact financial products. A lot of these environments [in Asia] look more attractive. Unlike the West, where challengers are trying to unseat banks, fintech startups in emerging markets work with the existing system.
Great meal. Black pepper crab, pictures of ice cold beer, outdoor seating with cool breeze, watching ships in and out of the harbor, and people walking, jogging, playing along the walking path My family was visiting me and I knew I had to bring them to Jumbo Seafood to try the famous crab dishes.
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Odey Asset Management is a London-based investment firm managing global capital for institutional investors, wealth managers, private banks and professional investors. JUMO's strategy and delivery of financial inclusion involves strategic partnerships with like-minded organizations, to facilitate the delivery of innovative financial solutions to segments of the population underserved by traditional financial services. Its partner ecosystem of leading banks and mobile money operators, which has doubled over the past year, leverages JUMO's platform to offer individuals and small businesses savings, credit and insurance products via mobile devices. Through its existing partnerships, nearly million mobile users are currently able to connect to the JUMO platform.
The latest investment can be considered an extension to that funding round that was closed back in September bringing the total fund raised in the round to nearly USD 65 Mnand with the injection of these fresh funds, the company is believed to have now raised funding in excess of USD Mn from external investors since its inception. The South African fintech startup, which recently set up its Asia Pacific base in Singapore, is believed to have expansion into other parts of Asia Pacific at the top of the list of efforts that this latest investment will be channeled into. Launched inJUMO leverages mobile networks to provide social impact financial products such as microloans, savings, and insurance.
While underbanked and unbanked customers in the developed world exist — and face a myriad of difficulties in securing access to financial products — the situation in developing world economies in regards to the unbanked and-underbanked population is a good deal more complicated. That is actually an improvement. More specifically, JUMO offers customers microloans, access to savings in partnership with banks and insurance products.
One of the big challenges and problems that companies like JUMO address is that of people and small businesses that operate outside the traditional and formal financial services sector. This is where companies like JUMO come in and have developed proprietary processes and systems in order to be able to assess how much of a loan they can advance to such individuals and small businesses. Known as financial inclusionbecause it involves bringing people who are outside of the formal financial sector into it, it is generally seen as a positive step in many Afrikan countries.
From software engineering, creative content, to digital strategy, our plethora of expertise exceed expectation in helping our growing roster of international partners. Epicentrum Boulevard Kuningan, Jakarta, Indonesia. A digital-first agency catering mainly to local and regional partners within the Myanmar market.
The last couple of years fintech companies have been taking over the world. Many new fintech companies are being created and are succeeding actually, completely changing the financial and banking sectors with an innovative approach to the traditionally boring industry. Especially the popularity of bitcoin trading and the need for more flexible banking systems around the world has increased the demand and success of the fintech startups. While traditional banks are struggling to reach the 95 million unbanked adults across Africa, fintech startups provide a great opportunity to solve this problem and reach more and more people to provide with traditional banking services with new tech.