Jambo, a company based in the Democratic Republic of Congo (DRC), has secured US$30-million to build a web 3 education user platform that will be based in Africa. The funding round was led by Paradigm with several other investors such as Morningstar Ventures, Kingsway Capital, Gemini Frontier Fund, Shima Capital, BH Digital, Graticule Asset Management, Pantera Capital and ParaFi Capital. The funding will be allocated towards building the platform through increasing the staff complement as well as expanding to several other regions within Africa.
Paradigm is a crypto venture capital fund that was established in 2018 by Fred Ehrsam (Coinbase co-founder) and Matt Huang (previously a partner at Sequoia Capital). The fund size is US$2.5billion which provides the most significant firepower in the crypto investor market and has invested in companies such as BlockFi, Uniswap and Sky Mavis among many others.