ICYMI: Jambo secures $7.5 million in seed funding to build Africa’s web3 ‘superapp’
The company wants to be Africa’s gateway to web3.African web3 startup Jambo has raised $7.5 million in a seed funding round that involved notable investors from the crypto space, the company announced on Monday.
According to Jambo founder James Zhang, the company aims to lead web3 adoption in Africa. Speaking to The Block, Zhang highlighted mobile phone penetration and crypto adoption as important metrics that position the continent as a viable location for significant investments in web3., Zhang stated that the company is looking to foster financial inclusion for millions across the continent via play-to-earn gaming, remittance, and decentralized finance .
“We have never taken a single dollar of profit from any scholar on a game, thereby by definition not a guild. We are the web3 onboarding portal of Africa which means we eventually later down the road will launch the best games to the region. But gaming is only a part of our entire ecosystem,” Zhang told The Block.While the company has a vision for Sub-Saharan Africa, Zhang says Jambo is not looking at the region as a monolith.
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