FTI Capital Advisors Supports JUMO in Raising USD$120 Million in Latest Funding Round
Washington, D.C., Dec. 17, 2021 — FTI Consulting, Inc. (NYSE: FCN) today announced that its investment banking subsidiary, FTI Capital Advisors, (DIFC) Limited (“FTICA”), served as the exclusive investment banking advisor for JUMO, a technology company building next-generation financial services for emerging market entrepreneurs, on its latest funding round.
The mandate included supporting the company in bringing its equity story to some of the most reputable financial and strategic investors globally. The latest funding round brings JUMO’s total funding raised to date to c$200 million.
The fundraise will support the scaling of JUMO’s platform capacity, enabling the company to evolve its services and increase the number of financial products for SMEs, as well as providing longer-term lending options for merchants and bigger businesses. The funds will also support JUMO’s international expansion in new markets such as Nigeria and Cameroon.
Founded in London, JUMO has built a platform that enables banks to reach millions of new customers with credit and savings products. The platform provides a full range of infrastructure and services that banks need in order to operate, from core banking to underwriting, know-your-customer and fraud-detection services.
“We are privileged to have a long-term strategic relationship with JUMO and to have been part of this funding round, which will be instrumental for the company,” said Fede Membrillera, a Senior Managing Director and TMT Lead at FTI Capital Advisors (DIFC) Limited. “JUMO’s leading banking-as-a-service platform and the supporting breakthrough AI predictive engine is a technological development that will connect financially underserved African communities and the large pools of capital available at local and regional banks and open access to banking for many more communities.”
About FTI Capital Advisors, LLC
FTI Capital Advisors is a global boutique middle market investment bank which specializes in M&A, capital raising, valuation and opinions, and special situations mandates across targeted industry sectors – including deep credentials in the media and entertainment sector, as well as in the energy, real estate, healthcare and industrial sectors. Backed by the power of FTI Consulting’s worldwide network of professionals, FTICA combines deep industry expertise with investment banking and transaction execution experience to deliver value enhancing outcomes for our clients. FTICA is registered with FINRA in the United States and engages in securities transactions pursuant to that registration. In non-US securities transactions, FTICA may be required to work with securities dealers registered in other countries. FTI Capital Advisors, LLC (member FINRA/SIPC) is the wholly owned investment banking subsidiary of FTI Consulting, Inc. (NYSE: FCN).
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Source: FTI Consulting, Inc.