African Web 3 super app startup Jambo raises US $7.5 million in seed funding

Jambo, a Congo-based firm that is creating Africa’s web3 user acquisition gateway by democratizing access to crypto-based income-generation opportunities through “learn, play, earn,” has acquired US $7.5 million in venture funding on 21st Feb 2022.

Coinbase Ventures, Alameda Research, Tiger Global, Delphi Ventures, AllianceDAO, DeFiance Capital, Yield Guild Games, and Polygon Studios are among them. Sandeep Nailwal, co-founder and CEO of Polygon; Santiago R Santos, ex-ParaFi partner; Do Kwon, co-founder and CEO of Terraform Labs; and partner at Delphi Digital Piers Kicks are among the web3 ecosystem’s angel investors.

According to experts, Africa is set to be disrupted by web3 in the same way that Southeast Asia has become one of the best markets for web3. Due to the acceptance of crypto and play-to-earn models, firms like Axie Infinity and Yield Guild Games have raised millions of dollars in venture financing.

What the founder has to say:

According to James Zhang (CEO of Jambo), the underlying difference is that while traditional platforms help Africans save and move money, new upstarts are enhancing users’ income and wealth potential.

“I believe there is no money to save in Africa since there are 1% super-rich and 99 percent of the population is the same. So we set out with a distinct philosophy to assist the average individual in making money. This is why every feature of our super app is designed to assist the average person in earning money, whether it’s through play to earn, earning money from viewing videos, or saving money on data credits,” said the CEO of Jambo.

About Jambo:

Jambo is building Africa’s largest and most important web3 community, at a time when Africa cannot afford to miss out on web3.

Jambo acts as a link between Africa and apps from all over the world that wants to tap into the African market. They are creating routes to connect African users to web3 ecosystems worldwide.

Since the beginning of the year, Jambo has enrolled over 12,000 students from 15 countries in a tailored web3 curriculum available both online and offline. According to the company, students will be able to explore potential in play-to-earn gaming and decentralized finance (Defi). Hundreds of ambassadors sign up students at colleges and 600+ physical partner locations where the 10-week programs are offered.

We try our best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know

-if there are any discrepancies in any of our published stories,

-how we can improve,

-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!

 Next Article