South African fintech startup Jumo closed a $55 million round from a diverse group of investors. Founded in 2015 and based in Cape Town, the venture offers a full tech stack for partners to build savings, lending, and insurance products for customers in emerging markets. With its latest raise, the company plans to move into new markets and launch new products in Asia and Africa. Jumo is active in six markets and plans to expand to two new countries in Africa (Nigeria and Ivory Coast) and two in Asia (Bangladesh and India).
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