LONDON, 21 February 2022 – JUMO, a technology company building next-generation financial services for emerging market entrepreneurs, is pleased to announce the appointment of Nichola Pease as Non-Executive Chair.
Nichola has more than 35 years’ experience in the financial services industry, including at chief executive level. She brings a wealth of leadership skills and in-depth knowledge of global financial ecosystems to the JUMO Board.
Nichola, Non-Executive Chair of Jupiter Fund Management plc, the FTSE 250 asset manager, also chairs the Nomination Committee and attends the Remuneration Committee. She was formerly an independent non-executive director at Schroders from 2012 to 2019, Chief Executive of JO Hambro Capital Management from 1998, until her appointment as Deputy Chairman in 2008. Her previous experience also includes Kleinwort Benson, Rowe Price-Fleming, Citibank and Smith New Court where she built the European broking business and subsequently joined the Board.
Andrew Watkins-Ball, JUMO Founder and CEO, said: “We are delighted to welcome Nichola to the JUMO Board as Chair. She is a great leader and I am excited to have the opportunity to work closely with Nichola. Her appointment will help us accelerate the depth and breadth of our capabilities as we enter the next phase of building to support our distribution and capital partnerships.”
Nichola Pease, incoming Chair, said: “I’ve been following JUMO closely for the last three years and it has been wonderful to see the business go from strength to strength. I’ve been hugely impressed by both the technical expertise and passion of Andrew and his team, and look forward to working with them to help make finance accessible to everyone.”
Founded in London, JUMO has built an intelligent platform that enables banks to reach millions of new customers with credit and savings products. JUMO is focused on making it easier for capital providers to be able to reach new customers at affordable prices whilst making predictable returns.
Nichola’s appointment follows the announcement last week that Michael Ball will join JUMO as Chief Financial Officer from April. Michael was formerly the Group CFO of cross-border payments and remittance fintech, World Remit.
The strengthening of JUMO’s Board and leadership team comes after the company raised $120 million in November 2021. Led by Fidelity Management & Research Company, LLC, Visa and Kingsway, it brought JUMO’s total funding to date to c. $200 million.
JUMO was founded in 2015 and is the market leading Banking as a Service platform that uses AI to power financial services in emerging markets.
JUMO offers savings and credit products to entrepreneurs in emerging markets, as well as financial services infrastructure to partners such as eMoney operators, mobile fintech platforms and banks.
The platform has two foundational capabilities:
· Core – which provides end-to-end, next generation banking infrastructure and
· Unify – the Artificial Intelligence processor that transforms data to reduce the cost and risk of lending.
In just over five years of operation, JUMO has enabled the disbursement of more than US$3.5 billion in loans and reached over 18 million customers and small businesses.
They are active in seven markets including Ghana, Tanzania, Kenya, Uganda, Zambia, Côte d’Ivoire and Pakistan.
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