Jambo, a Web3 “Super App” has raised $7.5 million in a seed funding round led by Coinbase Ventures with the participation of Delphi Ventures, Coinbase Ventures, 3 Arrows Capital, Alameda Research, AllianceDAO, Tiger Global, DeFiance Capital, Hashed, Polygon Studios, UOB, Signum Capital, BH Digital, Yield Guild Games and others.
Jambo is targeting the African market with a mission to build the bridge between Africa and the rest of the world.
James Zhang, co-founder, and CEO of Jambo, commented on the funding:
“Jambo aims to empower and bootstrap the continent by offering education and earning opportunities. We have the long-term vision of realizing financial prosperity for billions across the continent and are committed to fostering the next generation of Web3 innovators, builders, and creators. Jambo serves as the gateway to Web3, but it is so much more than that. By aggregating these critical services in one ‘Superapp,’ we aim to change the lives of billions.”
Jambo reports that since the start of 2022, it has already signed up over 12,000 students across 15 countries enabling students to explore opportunities in play-to-earn gaming and decentralized finance (DeFi).
The programs are available at colleges and across 600+ physical partner locations.
As nearly 60% of the population is under the age of 24 years old and nearly 50% of university graduates in Africa are unemployed, connecting them to their services hopes to lead to financial prosperity.
Jambo notes that Africans are well-versed in the use of smartphones and crypto adoption is surging in Africa, making the Jambo app a familiar on ramp to the opportunities in Web3.