SA fintech startup JUMO appoints Africa and India CEOs [Updated]

SA founded fintech startup JUMO announced today that it has appointed Buhle Goslar and Ashish Desai as Africa CEO and India CEO respectively.

The startup which is registered in Mauritius was founded by South African Andrew Watkins-Ball in 2014. Its platform helps facilitate digital financial services such as credit and savings in emerging markets.

The startup said in a statement today that the appointments come as part of a new organisational structure to support JUMO’s expansion into new markets in Africa and Asia.

Goslar (pictured above) previously held the role of chief customer and sustainability officer at JUMO. The startup said she will oversee the company’s business in its African markets including Ghana, Kenya, Tanzania, Uganda and Zambia.

Based out of the Cape Town operational hub, she will also focus on strategic partnerships in new markets on the continent.

The appointment of Buhle Goslar and Ashish Desai aims to aid JUMO’s expansion into new markets

Prior to joining JUMO Goslar worked as head of product at Woolworths Financial Services and held senior marketing roles at Barclays and Investec.

Two new India offices

The startup said the newly created role of India CEO comes after JUMO opened two new offices in Mumbai and Delhi earlier this year to support its expansion in India.

Desai is a former director at Cedar Consulting, and General Manager: Mobile Financial Services for Mahindra Comviva (then Bhartitelesot).

In addition, Brian Tait has been appointed as Interim CEO for Asia (excluding India) as JUMO recruits for the new role. The new regional CEOs will report to JUMO founder Andrew Watkins-Ball as Group CEO.

Said Watkins-Ball in the same statement: “As our business grows into new markets, we have the ability to scale our technology and data analytics capability to reach even more entrepreneurs and enable greater access to financial services across the world.

Raised over $91m

According to figures from business information platform Crunchbase the startup has raised over $91-million over eight rounds.

In December last year the startup landed two funding deals of $52-million led by Goldman Sachs (see this story) and a further $12.5-million in an investment from UK based Odey Asset Management (see this story).

JUMO’s media relations manager Anthea Hartzenberg told Ventureburn in an email that the startup currently employs 378 people.

She did not respond to a request to reveal figures on the company’s current revenue or revenue growth.

In February the startup announced that it had been selected to participate in the second session of Google’s Launchpad Studio (see this story).

Hartzenberg said JUMO currently has 13 offices across three continents. Ventureburn understands these to be based in Kenya, Uganda, Tanzania, Ghana, Zambia, Pakistan, the UK, Singapore and South Africa. It set up its Asia Pacific headquarters in Singapore last year.

Read more: SA fintech JUMO selected to join second cohort of Google Launchpad Studio
Read more: JUMO’s $12.5m deal from UK investor, brings funding raised to $64.5m in 2018
Read more: SA fintech JUMO closes $52m round led by Goldman Sachs
Read more: Are these the 10 biggest disclosed African tech startup deals of 2018? [Updated]
Read more: SA fintech JUMO closes $52m round led by Goldman Sachs
Read more: SA fintech JUMO secures first two commitments in new funding round
Read more: Five SA tech startups that are expanding into the rest of Africa [Updated]
Read more: Funder’s focus on making social impact key in $24m deal says JUMO founder
Read more: SA startup JUMO awarded $150 000 prize by Mastercard Foundation for client help
Read more: JUMO first SA startup to be selected for Google Launchpad Accelerator

*Correction: Our headline initially referred to an SA CEO being announced, when Buhle Goslar has in fact been made the Africa CEO. We regret the error.

Editor’s note (7 August 2019): This article has been updated to include information provided by JUMO’s media relations manager Anthea Hartzenberg. 

Featured image: JUMO SA CEO Buhle Goslar (left), pictured with the startup’s chief product officer Martin-Munjo Vogdt (right) (Supplied)