Jambo Raises $7.5 Million In Seed Funding To Connect Africa To The Web3 Ecosystem

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Jambo Raises $7.5 Million In Seed Funding To Connect Africa To The Web3 Ecosystem
Jambo Raises $7.5 Million In Seed Funding To Connect Africa To The Web3 Ecosystem

Jambo, a Congolese startup with operations in several African countries, has raised $7.5 million in seed funding to help the continent achieve financial prosperity through its web3 ecosystem.

The new fund will allow the startup to continue its mission of creating Africa’s web3 user acquisition portal by allowing users to learn, play, and earn all at the same time, while also democratizing access to crypto-based income-generation opportunities.

Jambo is also testing over ten play-to-earn games, which will be released in the coming months, according to the startup.

Jambo’s co-founder and CEO, James Zhang, stated that the company intends to onboard users to web3 across Africa with its application, which uses a dual approach that allows users to perform web2 and web3 activities.

The CEO explained that the startup’s main user acquisition strategy is to double African airtime and data to allow users to save money while using the app, and that it partners with telecom providers to get a 70% discount and sells directly to its users at a 50% discount from the original cost.

“The reason we can do that is through partnerships with these companies, as we tokenize a portion of their advertising budget and directly provide to the end-user,” he explained.

“Education is at the heart of what we do,” he says, “because I believe there is no shortcut in Africa.” At the end of the day, you must educate the user base before you can even consider monetizing or acquiring users. This is why we’re launching web3 classes with a full curriculum. We intend to launch it in more than five African universities by the end of the first quarter.”

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The startup claims to have already enrolled over 12,000 students from 15 African countries, including Nigeria, Ethiopia, Zambia, Uganda, Kenya, and, of course, Congo, to investigate opportunities in play-to-earn gaming and decentralized finance (DeFi).