Jambo, an African Web 3 super app announced having raised $7.5 million from a seed financing round which involved prominent names in the blockchain industry including; Three Arrows Capital, Delphi Ventures and Coinbase Ventures.
The super app is a one-stop mobile app which hosts multiple services including; food delivery, communication, ride-hailing and banking.
The company aims at introducing young Africans to Web 3 financial ecosystems through play-to-earn gaming and decentralized finance (DeFi) services which include 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,” said the company’s co-founder, James Zhang.
Zhang grew up in Democratic Republic of Congo, he says his family has been in Africa for three generations. He graduated from New York University with a degree in computer science and briefly ran a crypto fund before starting to work on Jambo.
According to Zhang, their major goal is to educate the youth population in Africa about Web 3 and introduce them to the financial opportunities it offers. The company mostly targets university students.
“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, hoping to enter 10 or 15 by the end of March. 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,” added Zhang.