San Francisco-based startup Juvo wants to help mobile users in emerging markets improve their financial standing by combining data and identity to provide micro-loans. It’s an ambitious goal, and to help achieve it, the company has raised $40 million in funding led by NEA and Wing Venture Capital.
Juvo joins companies like Branch and Tala in bringing financial services to the underserved in developing markets. But how Juvo differentiates is by working with mobile operators as the entry point to its relationship with the consumer. It does this by offering micro-loans to pre-paid mobile customers when they are short on data or minutes.
