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§ Private Profile · Windhoek, Khomas
Fintech platform digitizing cash and streamlining B2B payments for unbanked businesses and small retailers in Southern Africa.
JABU has raised $18.2M across 2 funding rounds.
Key people at JABU.
JABU was founded in 2020 by David Akinin (Founder).
JABU has raised $18.2M in total across 2 funding rounds.
JABU, based in Windhoek, Namibia, provides B2B payment solutions, including smart safes and digital wallets, to digitize cash transactions for businesses in Africa's cash-heavy economies. The platform enables small retailers and distributors to convert physical cash into digital currency, make free supplier payments, and access real-time tracking. JABU connects over 6,000 retailers and has raised $18 million in total funding, including a $15 million Series A round. Key investors include Y Combinator, Tiger Global, Afore Capital, and FJ Labs, while customers include Namibia Breweries Limited, AB InBev, and Coca-Cola. The company employs 40 individuals and operates in Namibia, Zambia, and South Africa. JABU was founded in mid-2020 by David Akinin. Its business model centers on monthly rental of smart safe devices, cash-in-transit services, insurance, and security, free B2B payments via app to drive adoption.
Key people at JABU.
JABU was founded in 2020 by David Akinin (Founder).
JABU has raised $18.2M in total across 2 funding rounds.
JABU's investors include Tiger Global, Afore Capital, BoxGroup, D Global Ventures, FJ Labs, Knollwood Investment Advisory, OldSlip Group, Kli Capital, Pareto Capital, Quiet Capital, Y Combinator.
JABU has raised $18.2M across 2 funding rounds. Most recently, it raised $15.0M Series A in May 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 25, 2022 | $15M Series A | Tiger Global | Afore Capital, BoxGroup, D Global Ventures, FJ Labs, Knollwood Investment Advisory, OldSlip Group | Announced |
| Jan 6, 2022 | $3.2M Seed | — | Afore Capital, FJ Labs, KLI Capital, Pareto Capital, Quiet Capital, Y Combinator | Announced |
JABU is a fintech company transforming Africa’s traditionally cash-based economy by providing digital wallet and B2B payment solutions primarily in Namibia, Zambia, and Southern Africa. Its core product, the Jwallet, enables small and medium-sized enterprises (SMEs), retailers, wholesalers, and distributors to digitize payments, improving transaction efficiency, transparency, and financial inclusion. JABU also offers last-mile distribution and e-commerce services for FMCG brands, facilitating same-day delivery and inventory management. This integrated approach helps informal retail sectors transition to digital payments and supply chain solutions, supporting business growth and financial integration across the continent[1][2][5].
For an investment firm, JABU’s mission centers on digitizing Africa’s cash economy to empower informal businesses through technology-driven financial services and supply chain solutions. Its investment philosophy likely focuses on scalable fintech innovations that address financial inclusion and market inefficiencies in emerging African markets. Key sectors include fintech, B2B payments, e-commerce, and logistics. JABU’s impact on the startup ecosystem is significant, as it fosters digital transformation in underserved markets, creates data-driven insights for FMCG brands, and supports the growth of informal retail businesses[1][2][5].
Founded in 2020 by CEO David Akinin, JABU emerged from the need to solve the challenges faced by informal retailers and SMEs in Southern Africa who rely heavily on cash transactions and face fragmented supply chains. Akinin’s background includes fintech and startup experience, and the idea grew from observing the inefficiencies in how small shops order, stock, and pay for goods. Early traction included rapid merchant adoption—over 6,000 merchants by early 2022—and successful fundraising rounds, including a $15 million Series A led by Tiger Global. This funding enabled expansion into new markets like Botswana and Eswatini and deepened JABU’s ecosystem around its digital wallet and last-mile delivery services[2][4][5].
JABU rides the wave of fintech innovation aimed at digitizing Africa’s large informal economy, which is predominantly cash-based and underserved by traditional financial institutions. The timing is crucial as mobile penetration increases and governments and investors push for financial inclusion. Market forces such as the growth of e-commerce, demand for efficient supply chains, and the rise of agency banking models favor JABU’s integrated approach. By enabling digital payments and last-mile logistics, JABU influences the broader ecosystem by connecting informal retailers to formal financial services and FMCG supply chains, thereby accelerating Africa’s digital economy transformation[1][2][5].
JABU is positioned for continued growth and regional expansion, with plans to deepen its presence in Southern Africa and enter new markets like Botswana and Eswatini. Future trends shaping its journey include increasing digital adoption among informal businesses, expansion of mobile money ecosystems, and greater demand for data-driven retail insights. JABU’s influence may evolve from a regional fintech startup to a key enabler of Africa’s informal sector digitization, potentially setting new standards for integrated B2B payments, logistics, and financial services in emerging markets. Its success will likely inspire similar models across the continent, reinforcing the shift from cash to digital economies[2][5].
