South Africa’s Fintech JUMO has succeeded to gather US$ 55m in its debt and equity round included participation from both new and existing investors, like Goldman Sachs, Odey Asset Management, and Leapfrog Investments. JUMO offers financial services infrastructure to third parties and has served over 15 million customers across countries, including Ghana, Kenya, Pakistan, and Tanzania. It plans to use the fresh capital to launch new products and expand into new markets in Bangladesh, India, Côte d’Ivoire, and Nigeria.
Sokowatch has raised $14 million in Series A funding toward its mission of revamping supply-chain markets for Africa’s informal retailers. The company, based in Nairobi, has created a platform that connects merchants directly to local and multinational suppliers and digitizes orders, payments and delivery-logistics. Since launching in 2016, and raising a $2 million seed round in 2018, the company has expanded within Kenya and into Rwanda, Tanzania and Uganda.
DentaCarts has raised US$450,000 in funding to expand into other countries from Egypt. The platform, launched in 2017, is a one-stop-shop marketplace that offers the widest range of authenticated products via authorised dealers, and has so far served over 1,500 dental clinics in Egypt, Saudi Arabia, Kuwait, Kenya, and Ghana, and delivered more than 10,000 orders to secure revenues of over US$1.1 million.
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