Web 3 startup Jambo appears to be Africa’s WeChat.

African startup Jambo is trying to emulate Tencent’s WeChat success in onboarding Africa to its planned Web3 social and commerce hub.

Brothers from the Democratic Republic of Congo, James and Alice Zhang, started a company called Jambo six months ago in an ambitious attempt to bring Web 3 digital commerce to the African continent. “We hope to become a super-app in Africa, just like WeChat has done in China over the past decade,” said 26-year-old James. The company has attracted notable names in seed and series A funding rounds such as Pantera Capital, Delphi Ventures, Sam Bankman-Fried’s Alameda Research and Coinbase Ventures. Paradigm Ventures, a venture capital firm with a niche that has invested in Axie Infinity, sees great potential in Jambo. Paradigm Investment Partner Casey Caruso said: “We believe that play to make money is just the beginning of Africa, especially Jambo.

Jambo raised $7.5 million in a seed funding round and $30 million in a Series A funding round.

Who is the app intended for?

Arguably the most famous P2E game Axie Infinity attracted Many crypto enthusiasts in Southeast Asia where unemployment is high but many have smartphone access.

Jambo targets the under-30 market touting smartphones, representing more than two-thirds of the population of Sub-Saharan Africa, the third fastest-growing crypto market segment globally. So far we’ve received 30000 registrations for apps like “WeChat”, scheduled for the third quarter of this year. The app includes a non-custodial wallet built on top of Polygon, an Ethereum layer 2 solution, several P2E games, and the Jambo token. P2E games are selected based in part on internet bandwidth capabilities. At the same time, you can earn and exchange for cryptocurrencies through the wallet. Polygon CEO Sandeep Nailwal and gaming division Polygon Studios both contributed to Jambo’s seed funding round.

teething stage

Using these funds, the Zhang brothers formed a 100-member crypto team, opening offices in Nigeria, Kenya, South Africa and 12 other countries to advance this project. Part of Jambo’s initial focus was to ensure affordable access to broadband Internet and computers for educational institutions in these countries. The company wants to grow its user base to over 200,000.

Jambo also plans to launch an investment fund, AfricaDAO, to fund new crypto projects on the African continent. James Zhang said, “We want to empower and invest in startups that share our vision and mission to positively impact the lives of millions of people across Africa over the coming decades.

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