Jumo Closes $120M Fidelity-Backed Funding Round Raises $400M from Keneo and Fortech

Jumo, a next-generation financial services provider, has successfully closed a $120 million funding round, backed by Fidelity, a large asset management firm. The round also saw investments from Keneo and Fortech, bringing the total raised to $400 million. This major financing round is a testament to the potential of Jumo and the trust of investors in its vision to revolutionize financial services.

Overview of Jumo and the Funding Round

Jumo is a financial services provider that offers a range of products and services to its customers. The company has grown significantly since its launch and is now a major player in the financial services industry. In October 2020, Jumo announced that it had closed a $120 million funding round, backed by Fidelity, one of the world’s largest asset management firms. The round also saw investments from Keneo and Fortech, bringing the total raised to $400 million.

Investors Involved in the Round

Fidelity was one of the main investors in the funding round, investing $120 million. Keneo and Fortech also participated in the round, investing a combined $280 million. The funding round was a major milestone for Jumo and showed the faith that investors have in the company’s vision.

Jumo’s Vision and Plans

Jumo’s mission is to revolutionize financial services by providing customers with easy access to a range of products and services. The company plans to use the funds raised to expand its operations, develop new products and services, and increase its global presence.

Impact of the Funding Round

The funding round is a major milestone for Jumo and will help the company take its operations to the next level. The funds will be used to expand the company’s operations and develop new products and services. The investment also shows that investors have faith in Jumo’s vision and believe in its potential.

Conclusion

Jumo’s success in closing a $400 million funding round is a testament to the potential of the company and the trust of investors in its vision. The funds raised will be used to expand the company’s operations and develop new products and services. The investment also shows that investors have faith in Jumo’s vision and believe in its potential to revolutionize financial services.