Congo-based startup, Jambo, has secured $7.5 million in funding. The startup is building Africa’s web3 user acquisition portal through a “learn, play and earn” platform. Jambo is also democratizing access to crypto-based income-generation opportunities for Africans.

Leading this round of investment are Coinbase Ventures, Three Arrows Capital (3AC), Alameda Research, Tiger Global, Delphi Ventures, AllianceDAO, DeFiance Capital, Yield Guild Games and Polygon Studiosl, as well as several angel investors from the web3 ecosystem, like Polygon co-founder and CEO Sandeep Nailwal; ex-ParaFi partner Santiago R Santos; Terraform Labs co-founder and CEO Do Kwon; and partner at Delphi Digital, Piers Kicks.

The startup has positioned itself for the developing African population for the penetration of web3 in Africa. According to James Zhang, its co-founder and CEO, Jambo is looking to onboard millions of users to web3 in Africa through its applications.

Jambo has founded in November 2021 after James and his sister who is also the co-founder, discovered the opportunity to duplicate the success of web3 projects in Southeast Asia across Africa.

The startup is also partnering with social media companies so users can earn tokens (which they can convert to income) while watching their content on its app.

READ ALSO - Clickatell Secures $91M for Product Acceleration

“The reason we can do that is via partnerships with these companies as we tokenize a part of their advertising budget and directly provide to the end-user. Many web2 incumbents or even web3 are having a $100-200 user acquisition costs so we can lower that by order of magnitude by directly incentivizing the end-user,” James disclosed

According to Jambo, the company has already signed up more than 12,000 students across 14 countries (Morocco, Nigeria, Ethiopia, Equatorial Guinea, Kenya, Congo, Uganda, Rwanda, DR Congo, Tanzania, Zambia, Namibia, Madagascar and South Africa) to take a curated web3 curriculum, both online and offline.

The company said this would enable students to explore opportunities in play-to-earn gaming and decentralized finance (DeFi). The 10-week programs are available at colleges and across 600+ physical partner locations where hundreds of ambassadors sign up students.