Jambo Raises $7.5 Million To Create Africa’s Web3 “superapp.”

Jambo, an African web3 company, revealed today that it has secured $7.5 million in additional investment to expand its ground-breaking web3 “superapp” of Africa.

Delphi Ventures, Coinbase Ventures, 3 Arrows Capital, Alameda Research, AllianceDAO, Tiger Global, DeFiance Capital, Hashed, Polygon Studios, UOB, Signum Capital, BH Digital, Yield Guild Games, and others participated in the seed round.

James Zhang, co-founder and chief executive officer of Jambo, said in a statement:

“We have the long-term vision of realizing financial prosperity for billions across the continent and are committed to fostering the next generation of web3 innovators, builders and creators. Jambo serves as the gateway to web3, but it is so much more than that. By aggregating these critical services in one ‘superapp,’ we aim to change the lives of billions.”

Jambo, which was founded in late 2021, claims its app as having the ability to significantly enhance Africa’s educational and economic potential through access and possibilities afforded by digital assets. The Jambo application gives users access to a safe, global, and trustless financial infrastructure, promoting greater financial inclusion on the African continent.

Initially, the app has games in which users may participate in play-to-earn programs. From there, the firm intends to provide access to decentralized finance services, such as currency exchanges and remittances, as well as yield-bearing assets.

The company’s objective is proven by the fact that Africans are believed to be well-versed in smartphones, and crypto use is on the rise on the continent, giving the Jambo app a straightforward and familiar entry point to the prospects inherent in web3.

The company has already signed up over 12,000 students from 15 countries to finish a chosen web3 curriculum, both online and offline, since the beginning of this year. It gives students the opportunity to discover prospects in play-to-earn gaming and DeFi. The classes are accessible at colleges as well as in over 600 physical partner sites.

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