Jambo, a Congolese web3 startup has raised seed funding of $7.5 million
The round included Coinbase Ventures and Three Arrows Capital (3AC), Alameda Research; Tiger Global; Alameda Research; Alameda Research; Tiger Global; Alameda Research partner Santiago R Santos; and Polygon Studios. A few angel investors were also present from the web3 ecosystem, including Polygon CEO Sandeep Nailwal; Ex-ParaFi partner Santiago R Santos and Terraform Labs CEO Do Kwon; as well as partners at Delphi Digital Piers Kicks.
Founded in 2021 by James Zhang, Jambo, a Congo-based startup building Africa’s web3 user acquisition portal through “learn, play, earn” and democratizing access to crypto-based income-generation opportunities.
Jambo wants to introduce young Africans to Web 3 financial ecosystems through play-to-earn gaming and decentralized finance (Defi) services including currency exchanges and remittances.
“Honestly, anything that helps in Africa – send money, save money, make money – is what we’re testing off of the super app,” co-founder and CEO Zhang.
Jambo has signed up more than 12,000 students from 15 African countries, including South Africa, Nigeria, Ethiopia, and the Democratic Republic of Congo. The Web 3 curriculum is designed to enable students to explore play-to-earn or Defi.
“We’re literally going campus by campus. We’re, I think, signing on one to two per week, started about a month ago. We’re at around more than six college campuses already. We hope to be able to attend 10 or 15 colleges by the end. [March],” Zhang said.
Zhang said that the startup has set up offices and teams in 15 countries to test services and cater to different communities across the continent.
“We have the long-term vision of realizing financial prosperity for billions across the continent and are committed to fostering the next generation of Web 3 innovators, builders, and creators,” he said.