Jabu provides a digital cash management platform that includes JabuPay, JabuSafe, and JabuTap, enabling businesses in Zambia to instantly digitize cash deposits and streamline payment processes. This system reduces cash shrinkage, enhances internal controls, and improves operational efficiency by offering real-time transaction histories and secure cash handling solutions.
Funding
$18.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
B+2Founders
Product
Problem
Businesses in Zambia face challenges in managing cash transactions, including risks of theft, reconciliation difficulties, and inefficiencies in payment processes due to the country's reliance on cash-based operations. Traditional methods lack real-time visibility and control over cash flow, hindering operational efficiency and increasing the potential for financial losses.
Solution
Jabu provides a suite of digital cash management tools, including JabuPay, JabuSafe, and JabuTap, designed to digitize cash deposits and streamline payment workflows for businesses in Zambia. JabuPay is a mobile wallet that provides instant access to digitized cash. JabuSafe is a certified smart safe that instantly digitizes cash deposits, providing comprehensive insurance and secure cash handling. JabuTap enables businesses to accept Zambian Mastercard and Visa card payments. The platform reduces cash shrinkage, enhances internal controls, and improves operational efficiency by offering real-time transaction histories and secure cash handling solutions.
Target Audience
The primary target audience includes businesses in Zambia, such as local spaza shops, dynamic merchant businesses, key distributors, reliable suppliers, and busy petrol stations, seeking to streamline cash management and improve financial efficiency.
Features
- JabuPay mobile wallet for instant digital cash access and supplier payments
- JabuSafe certified smart safe for secure on-premise cash digitization
- JabuTap card payment acceptance with 1.5% transaction fee and no onboarding or monthly fees
- Real-time transaction histories accessible via the JabuPay app and web interface
- Comprehensive insurance and cash-in-transit (CIT) pick-ups included with JabuSafe
- Integration with JabuPay for instant balance updates upon cash deposit into JabuSafe or card swipe on JabuTap
- BOZ (Bank of Zambia) licensed for secure and compliant financial transactions