JUMO’s $52 Million Funding Round


White & Case LLP has advised Goldman Sachs as leader in the round

JUMO, the largest and fastest growing technology platform for operating inclusive mobile financial services marketplaces, today announced the close of an equity funding round of USD$52 million led by Goldman Sachs, with participation from other leading investors including Proparco, the private sector financing arm of the French Development Agency (AFD), Finnfund, Vostok Emerging Finance, Gemcorp Capital, and LeapFrog Investments. This funding round represents Goldman Sachs, Proparco and Finnfund’s maiden investments into JUMO.

The funds raised will be used to further JUMO’s growth and expansion into new markets. Since its launch in 2014, more than 9 million people have saved or borrowed on the JUMO platform, with nearly 70% of these being micro and small business owners. To date, JUMO has originated over USD$700 million in loans on its platform and manages over 25 million customer interactions per month.

White & Case advised Goldman Sachs on the deal with a team including partners Ken Barry (Picture), Michael Wistow, Stuart Willey, Tim Hickman (all London) and Joz Coetzer (Johannesburg), and associates Ndidi Eseonu, Paul Harrington, Anneka Randhawa (all London) and Lisa Kahimbaara (Johannesburg).

Involved fees earner: Kenneth Barry – White & Case; Joz Coetzer – White & Case; Ndidi Eseonu – White & Case; Lisa Kahimbaara – White & Case; Michael Wistow – White & Case; Paul Harrington – White & Case; Stuart Willey – White & Case; Tim Hickman – White & Case; Anneka Randhawa – White & Case;

Law Firms: White & Case;

Clients: Goldman, Sachs & Co.;