The sibling founders started Jambo six months ago with the aim of bringing Web3, a blockchain-based version of the internet, to Africa.
Jambon the past year, play-to-earn games like Axie Infinity have transformed the livelihoods of thousands of people, particularly in developing nations of Southeast Asia, where high unemployment combined with widespread smartphone penetration have led those struggling during the pandemic to look for an alternative source of income. With Axie, all it took was a smartphone, an internet connection, and a few extra hours.
“We hope to become the super app of Africa, similarly to what WeChat has done in China in the last decade,” says James Zhang, Jambo’s cofounder and CEO.the completion of a $30 million Series A funding round led by crypto-focused venture firm Paradigm. It is Paradigm’s first investment in the continent. Other high-profile investors in the round include ParaFi Capital, Pantera Capital, Delphi Ventures, Kingsway Capital and Gemini Frontier Fund.
France Dernières Nouvelles, France Actualités
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African Crypto Startup Raises $30 Million To Build A Web3 WeChatI report on cryptocurrencies and other applications of blockchain technology. I also edit the weekly Forbes Crypto Confidential newsletter and contribute to our premium research service Forbes CryptoAsset & Blockchain Advisor. A Russia native, I am a graduate of NYU Abu Dhabi and Columbia University's Graduate School of Journalism.
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