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Umba logo — Umba is an African digital bank, offering free bank accounts...

Umba

Umba is an African digital bank, offering free bank accounts and financial services to our customers

Founded 2019 United States San Francisco, United States 110 employees Angel Total: $17.00M Financial Services, Fintech +1

General Information

Company Name Umba
Founded Year 2019
Location United States San Francisco, United States
Employees 110
Industries Financial Services, Fintech, Mobile
Funding Stage Angel
Social

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About Umba

Umba is an African digital bank that aims to provide free bank accounts and financial services to its customers. The company offers an ecosystem of connected financial services through a mobile app, allowing users to manage their finances seamlessly. Umba is committed to driving economic growth through financial inclusion and provides innovative solutions to empower both employers and employees. The startup was founded in 2019 and operates in the Financial Services and Fintech industries, with headquarters in the United States. In January 2021, Umba launched in Nigeria, and then expanded to Kenya in April 2023 through the acquisition of an existing Microfinance bank. The digital platform offers a wide range of banking services including account management, payments, loans, and savings, utilizing technology and data-driven insights to streamline processes. The most recent funding round was the Angel Round investment at 01 February 2024, led by James McGann. The investment reflects the confidence of investors in Umba's potential to reshape the future of banking in Africa. With a focus on personalized service and tailored solutions, Umba aims to drive sustainable economic development and transform lives through its innovative approach.

Business keywords: digital bank, financial inclusion, African fintech, mobile banking, microfinance acquisition, technology-driven, data-driven insights, seamless banking services, financial stability, economic development, financial empowerment, personalized service, sustainable growth

Funding Rounds & Investors (5)

View All
Funding Stage Amount Investors Lead Investors Date
Angel Round Undisclosed 1
James McGann
01 Feb 2024
Series A Undisclosed 3
Streamlined Ventures Bloom Equity International Investment & Underwriting Limited
Streamlined Ventures, Bloom Equity +1
03 Dec 2023
Series A $15.00M 6
Act Venture Capital Valia Ventures Banana Capital
Act Venture Capital, Valia Ventures +4
13 Apr 2022
Seed Round $2.00M -
17 Dec 2020
Pre Seed Round Undisclosed -
06 May 2019

Umba Alternatives & Competitors

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Umba vs
4G Capital
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Umba vs
FairMoney
FairMoney France

We are rebuilding Africa's Money story!

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Umba vs
Constellation Digital Partners
Constellation Digital Partners United States

Constellation provides an innovation ecosystem enabling fintech based digital banking services for c...

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FAQ About Umba

Umba is an African digital bank, offering free bank accounts and financial services to our customers
Umba was founded in 2019.
Umba is headquartered in San Francisco, United States.
Umba operates in Financial Services, Fintech and Mobile. Its work centres on digital bank, financial inclusion, African fintech and mobile banking.
Umba has approximately 110 employees.
Umba has completed 5 funding rounds, raising a total of $17.00M. The latest funding stage is Angel.
Top alternatives and competitors to Umba include 4G Capital, FairMoney, Constellation Digital Partners, KwikPaisa NEO Bank, Moven. These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.
Umba and 4G Capital are both companies in similar industries. Compare their funding, team size, growth signals, and market position on Bounce Watch to see which one fits your needs.

Source: BounceWatch company record for Umba, https://bouncewatch.com/company/umba, updated 30 December 2024. When citing, please name BounceWatch and link this page.

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