African Fintech Startup Raises $450k

The Jamborow team was having trouble securing fundraising at a time where their identity lacked direction

They had the business experience and a team of veteran entrepreneurs, but when it came to objectives like brand strategy and recruitment there was a bit of a gray area. Jamborow also needed help simplifying their pitch deck and cutting it down to a digestible takeaway for investors.

They wanted to be able to test their product on the audience and ultimately develop their valuation by other thought leaders in the industry. There was a need for expert validation in order to become entirely investment-ready and give Jamborow a final push to the fundraising finish line.

Jamborow has been able to utilize feedback from Newchip and really develop a sound, impressive pitch

One of their biggest successes was the fine-tuning of their pitch deck which, according to their founding team, has been overhauled and perfected with help of their mentor. Their team took advantage of feedback in general; the networking sessions, mastermind groups, mentorship opportunities, and the advice from the other startups who were also going through the program and experiencing the same problems and looking for similar solutions.

The fintech company explored new ways of approaching its branding and marketing initiatives and were able to increase their exposure to investors through Online Demo Week.

Since graduation Jamborow has spoken to over 35 investors from different markets, continents, and industries. They have a committed $450k and are coming back to Newchip to continue the growth and success they have had. 

By solidifying their pitch, the team can now move forward in fundraising and focus on their future initiatives such as the development of two more products: a crypto payment and an alternative program in grassroots trade.

About Jamborow

Jamborow is a financial ecosystem focused on Digitizing the KYC Data of the Village and creating a credit footprint for Financial inclusion for the grassroots of Africa. The platform is built around the massive unbanked population in Africa of over 400 Million people. Of that population, the majority are represented by savings groups across Africa in forms of SACCO, AJO, ESUSU, SUSU, and more.

If you’d like to read more success stories in the fintech industry check out our story on Wemlo!

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Armando Vera Carvajal

Armando Vera Carvajal

Armando Vera Carvajal is a Vice President at Newchip, the largest global online accelerator focused on helping startups raise capital from professional investors. As one of the original product founders and pioneers, Armando is passionate about building new products with high potential for global reach and impact. Prior to Newchip, he was as a Research Manager at the Gerson Lehrman Group where he covered hedge fund clients in New York City involved in long/short, distressed credit, special situations, activist, and global macro investment strategies. Armando studied international relations and corporate communications at the University of Texas at Austin, along with global exchanges at the Nanyang Technological University in Singapore and at l’Institut d'études politiques de Paris (Sciences Po). Born in Mexico City, Armando immigrated to the United States of America when he was four years old and grew up in McAllen, Texas. His interests include painting, mountaineering, writing, film, world travel, kayaking, photography, reading, black coffee, running, and inspiring people to become agents of positive global change.

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