Goldman Sachs, Odey Asset Management, Leapfrog Investments and existing investors have provided $55m in debt and equity funding to JUMO, a technology company building next-generation financial services for emerging market entrepreneurs.

The investment will support JUMO’s expansion into new markets and the launch of new products.

Andrew Watkins-Ball, JUMO’s Founder & Group CEO. said: “I’m excited for our next phase. This backing will help us build a better business and break new ground. The strong vote of confidence, along with the world-class tech talent we now have in the business, means we can achieve exceptional outcomes for our partners and customers.”

In November last year, JUMO announced having served over 15 million customers across six markets in Ghana, Uganda, Kenya, Tanzania, Zambia and Pakistan.

The company, which plans to enter Nigeria, Côte d’Ivoire and India this year, has disbursed over $1.8bn since its founding in 2015.

Founded in London in 2015, JUMO has partnered with financial service providers and mobile network operators to provide credit and savings solutions to customers.

These give anyone with a cell phone and mobile wallet access to unprecedented financial choice, so that millions of people can prosper, build their businesses and grow.