menu-icon
London

JUMO earns B Corp Certification

28 September 2022

LONDON, 29 September 2022 – JUMO, a technology company building next-generation financial services for emerging market entrepreneurs, today announced its certification as B Corporation (B Corp or benefit corporation). The organisation joins an international movement of 5,787 purpose-led businesses that meet B Corp’s high standards of social and environmental performance, accountability and transparency.

To become a certified B Corp, companies undergo a rigorous review of the impact of their operations and business model on their workers, customers, communities and environment, and must meet a minimum verified score on the B Impact Assessment.

JUMO is one of a small number of financial technology organisations to have achieved B Corp certification. The milestone is a marker of the positive impact JUMO has made in the financial services sector since it was founded in 2015. JUMO’s platform financially empowers underserved communities by making saving and borrowing more accessible at the best rates, so SMEs and micro-SMEs can invest in their businesses and communities. JUMO is using technology to drive systematic changes and enable financial freedom across countries such as Uganda, Zambia, Côte d’Ivoire, Tanzania, Ghana and Kenya.

Andrew Watkins-Ball, JUMO Founder and CEO, said: “When you do business in sensitive areas with large counterparties you need to have higher standards of accountability and transparency. B Corp’s high standards are the benchmark for companies who believe that profit and purpose must be aligned.  This has always been a milestone that we have worked towards and we are proud to join the ranks of the certified B Corp companies.”

This certification offers JUMO a powerful framework to accelerate business growth, following a US$120 million fundraise in November 2021 led by Fidelity Management & Research Company, LLC, Visa and Kingsway. The round has supported the scaling of JUMO’s platform capacity and brought JUMO’s total funding to date to c.US$200 million.

ENDS

About JUMO

JUMO was founded in 2015 and is the market leading Banking as a Service platform that uses AI to power financial services in emerging markets.

JUMO offers savings and credit products to entrepreneurs in emerging markets, as well as financial services infrastructure to partners such as eMoney operators, mobile fintech platforms and banks.

The platform has two foundational capabilities:

·   Core – which provides end-to-end, next generation banking infrastructure and

·   Unify – the Artificial Intelligence processor that transforms data to reduce the cost and risk of lending.

In just over five years of operation, JUMO has enabled the disbursement of more than US$3.5 billion in loans and reached over 18 million customers and small businesses. They are active in six markets including Ghana, Tanzania, Kenya, Uganda, Zambia and Côte d’Ivoire.

www.jumo.com

For media enquiries, please contact:

JUMO@brunswickgroup.com or +44 20 7404 5959

Share this article

You may also like

Côte d’Ivoire
Orange Money Group and fintech JUMO join forces to expand credit services in Africa
Orange Money Group and banking as a service financial technology provider JUMO, have partnered to enhance digital financial services across Africa. This collaboration aims to extend Orange Money Group's services to include additional microcredit solutions for unbanked populations.
Zambia
MTN Mobile Money Zambia and JUMO launch mobile money overdraft facility together
MTN Mobile Money Zambia and leading banking infrastructure provider JUMO have partnered to bring Kwanisa Na MoMo, a mobile money overdraft credit option, to the people of Zambia.
Accra, Ghana
Fidelity Bank, MobileMoney LTD and JUMO align to boost financial inclusion in Ghana with the launch of BoseaLoan
In a significant step toward expanding access to credit and deepening financial inclusion in Ghana, Fidelity Bank Ghana, in partnership with MobileMoney LTD and JUMO has officially launched BoseaLoan, a fast, flexible, and inclusive mobile loan product.
Côte d’Ivoire
Orange Money Group and fintech JUMO join forces to expand credit services in Africa
Orange Money Group and banking as a service financial technology provider JUMO, have partnered to enhance digital financial services across Africa. This collaboration aims to extend Orange Money Group's services to include additional microcredit solutions for unbanked populations.
Zambia
MTN Mobile Money Zambia and JUMO launch mobile money overdraft facility together
MTN Mobile Money Zambia and leading banking infrastructure provider JUMO have partnered to bring Kwanisa Na MoMo, a mobile money overdraft credit option, to the people of Zambia.
Accra, Ghana
Fidelity Bank, MobileMoney LTD and JUMO align to boost financial inclusion in Ghana with the launch of BoseaLoan
In a significant step toward expanding access to credit and deepening financial inclusion in Ghana, Fidelity Bank Ghana, in partnership with MobileMoney LTD and JUMO has officially launched BoseaLoan, a fast, flexible, and inclusive mobile loan product.
icon
icon
Bradwin-Roper-full

Bradwin Roper

A visionary leader inbanking, fintech and telecommunications. Bradwin has 17 years of diversified experience across these sectors and is renowned for his strategic vision, financial acumen, and leadership.His proficiency in engaging with stakeholders at multiple levels has consistently resulted in delivering impactful outcomes in complex scenarios.
We're committed to building financial tools that are not only fast and accessible, but also personalised and responsible.
Bradwin-Roper-full
icon
Joe-Mucheru-profile

Joe Mucheru

 

Joe was the former Kenyan Cabinet Secretary in the Ministry of ICT, Innovation and Youth Affairs, appointed by then President of Kenya, Uhuru Kenyatta. He held office from 2015 to 2022. He brings a wealth of government experience and in-depth knowledge of pan-African tech to the JUMO executive team and board. Joe was also previously the head of Sub-Saharan Africa (SSA) for Google, based in Nairobi, serving as Google’s first SSA employee. He joined Google in 2007 where he led the delivery of strategy, business planning and operations and was key to setting up Google’s presence on the continent.

Organisations like JUMO have never been more important for protecting livelihoods, facilitating financial inclusion, and driving economic growth.
Joe-Mucheru-profile
icon
fabio-matos-profile

Fábio Matos

Fábio has worked in systems and software development for over 14 years. His tech leadership experience covers e-commerce and banking. He helped build the engineering team for neobank N26, and is building a world-class, compliant and scalable platform for JUMO.
JUMO has built a strong technology base with new features and functionality constantly on the horizon. We are ready for whatever comes our way.
fabio-matos-profile
icon
Paul-Whelpton-profile

Paul Whelpton

Prior to joining JUMO, Paul spent seven years in various senior roles running analytics teams at Standard Bank. He was most recently the executive responsible for product and pricing across the South African business. Paul’s banking experience spans retail, business and commercial with a specific focus on generating profit from data and analytics. He holds a BCom from the University of Pretoria, an MBA from Gordon Institute of Business Science, and is a graduate of Harvard Business School.

JUMO is an information enablement company that’s creating value for partners, and ordinary people. Customers can access credit in real time at a low cost of risk.
Paul-Whelpton-profile
icon
Susie-Squire-profile-1

Susie Squire

Susie joined JUMO after five and a half years at Woolworths Holdings Limited, where she was Group Head of Communications. Before joining Woolworths, she was the Press Secretary to the British Prime Minister, David Cameron, and was responsible for coordinating cross government communications and campaigns. Before that, Susie was at the Department for Work and Pensions, working as part of a team that oversaw wholesale reform of the welfare system. Susie has over 12 years’ international communications and corporate affairs experience spanning markets across Africa and Europe.

We have an unmatched ability to serve high quality, low cost financial products to customers at scale in emerging markets.
Susie-Squire-profile-1
icon
Andrew-Watkins-Ball-profile

Andrew Watkins-Ball

Andrew started his career as an entrepreneur before joining Salomon Brothers, working in London and New York. After seven wonderful years, he moved back to focus on building businesses within the Technology sector. Andrew’s passion, which ultimately led to him founding JUMO, is to find capital and put it to work to create products, jobs, opportunities and growth. Since 2015, Andrew has been leading JUMO’s mission to enable the world’s unbanked entrepreneurs access to the financial services they need to grow and prosper.

Everyone should have access to the best financial choices. We’ve built the brain and pipes that hold and carry information for banking systems.
Andrew-Watkins-Ball-profile
icon
Michael-Ball-profile-1

Michael Ball

Michael has over 20 years’ experience in CFO roles and a successful track record for building scale and value. He is recognised industry-wide for operational efficiency, business transformation, liquidity management, financial structuring, refinancing and IPO preparation and execution. During his previous tenures as Group CEO for Zepz/WorldRemit and Sysco, his financial responsibilities also included strategy and M&A. Michael lives in North London with his wife, Eloise, young daughter, Amelie and two dogs. He likes to keep fit, plays very average golf and is a season ticket holder at Manchester United.

JUMO is powering growth by constantly building scale and value.
Michael-Ball-profile-1