EMEA Daily: UK FinTech JUMO Raises $120M; ShipBob Plans 20 Fulfillment Centers in Europe

In today’s top Europe, Middle East and Africa (EMEA) news, the FinTech JUMO raises $120 million to support emerging market entrepreneurs; logistics-based startup ShipBob plans 20 fulfillment centers in Europe; Fiverr launches new solutions for small business management; Egypt’s central bank approves instant payment regulations; and OmniBiz Africa unveils buy now, pay later (BNPL), bookkeeping services.

FinTech JUMO Raises $120M to Support Emerging Market Entrepreneurs

London-based technology FinTech JUMO has raised $120 million to help the startup further support emerging market entrepreneurs with next-generation financial services. JUMO will use the new infusion of capital to build out the capacity and scope of its platform and offer new financial products and services to small- to medium-sized businesses (SMBs), as well as provide long-term loan products to merchants and larger companies.

Logistics Startup ShipBob Plans 20 Fulfillment Centers in Europe

Chicago-based logistics startup ShipBob is planning to open 20 fulfillment centers in Europe by 2023 to help more consumer brands compete with Amazon and capitalize on the popularity of eCommerce. Launched in 2014 by Dhruv Saxena and Divey Gulati, ShipBob has an estimated valuation of over $1 billion and strives to help SMBs contend with eCommerce giants by offering less expensive delivery that’s also faster.

Fiverr Launches New Solutions for Small Business Management

Israeli freelance services platform Fiverr is rolling out a suite of back-office management tools to support freelancers and SMB owners with payments, taxes and other regular tasks. Fiverr Workspace is a comprehensive suite that connects a variety of new tools as well as customer favorites from AND.CO.

Egypt’s Central Bank Approves Instant Payment Regulations

Residents of Egypt can now make instant electronic payments between bank accounts using their mobile phones, thanks to newly approved regulations by Egypt’s central bank. A new network will launch by the end of the year, allowing bank customers to manage their bank accounts and finalize transfers with any bank through one app.

OmniBiz Africa Unveils BNPL, Bookkeeping Services

B2B eCommerce firm Omnibiz Africa has launched two new features for retailers: a buy now, pay later (BNPL) option and a bookkeeping app called MyStore. The Nigerian company announced the new products at an event in Lagos last week, saying they would give customers credit options to grow their businesses and the ability to track sales, cost, prices and profits.