Last week in brief…November 15th, 2021
Africa’s FinTech sector continues to command investor interest, drawing in international investors in increasing numbers. We can now add another one to the list of first-time investors in the sector on the continent. US fund giant Fidelity led a group of other new and returning investors backing the latest round being raised by banking-as-a-service company JUMO. Between them, the investors are investing a total of $120 million in the 6-year-old business, lifting the total amount of funding raised by the company to date to about $200 million. JUMO has earmarked the capital for its technology development plans, as well as its ability to provide longer-term financing options to its larger clients.
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