Proparco will make an equity investment of US$ 3 million in JUMO, an emerging market technology start-up that offers unbanked or under-banked people access to financial services via their mobile phones. JUMO provides an innovative platform and suite of products that promote financial inclusion.
An innovative, responsible business model for mobile financial services
JUMO helps to provide loans and savings-products to customers through mobile phone networks. The company has developed a credit scoring algorithm which helps customers to unlock the value of their digital footprints by providing an accurate estimation of their creditworthiness, helping them to access finance at a very low cost due to the company’s efficient, large scale platform approach.