Kenyan startup Jamborow is a fintech platform that provides white label solutions to enable savings and credit cooperatives societies, or Saccos, to better serve their members and scale operations while at it. Founded in 2018 by Moses Onitilo and Olusegun George, Jamborow brings together all players in the financial ecosystem, including lenders, borrowers, and intermediaries. Its system digitises KYC data, automates and digitises operations, creates a credit score for all members, avails e-wallets to members, provides additional sources of funding for on-lending, has a business intelligence tool, and offers API code-share integrations. So far, it has onboarded over 1.4 million Sacco members across Sub-Saharan Africa and is looking to expand into the East African market. With uptake so strong, the founders, who put in US$400,000 of their own savings to begin operations, are currently raising a seed round to fund further growth. Its focus is on Kenya and wider East Africa.
SOURCE: DISRUPT AFRICA