Jambo, a congolese startup, has raised $7.5 million in seed funding to bolster its ongoing project in building ‘the largest, most influential web3 community across Africa.’
The funding included a host of major VCs such as Coinbase Ventures, Alameda Research, and AllianceDAO.
According to Jambo, there is a big opportunity for Africa in Web3 and bulding the portal that will connect millions of African users to Web 3 applications from across the world.
According to James Zhang, the startup’s co-founder and CEO, Jambo wants to onboard millions of users to web3 in Africa through its applications. Zhang founded Jambo with his sister, both Congo-born Chinese, in November 2021 when they noticed the opportunity to duplicate the success of web3 projects in Southeast Asia across Africa.
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SEE ALSO: Tanzanian Fintech, NALA, Raises $10 Million to Expand to 12 African Countries in 2022
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“Honestly, anything that helps in Africa – send money, save money, make money – is what we’re testing off of the super app.“
– Co-Founder & CEO, Jambo
The service is looking to introduce a revenue share model that is not much different from Axie Infinity’s Play-to-Earn model. Jambo is however taking a two-sided approach by allowing its users to earn when they partake in web2 and web3 activities.
In it’s strategy, Zhang has indicated that Jambo is testing out over 10 play-to-earn games to introduce to its users in the next couple of months. This will be followed by education about web3 with 5 universities targeted across the continent.
In 2021, the startup had reportedly already signed up over 12,000 students across 15 countries to take a curated web3 curriculum both online and offline.
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RECOMMENDED READING: Cameroon’s Ejara Raises $2 Million to Bring Non-Custodial Crypto Investing to Francophone Africa
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