The Fundamo (Fundamentally mobile) concept was conceived in early 1999 as an experimental project within Sanlam Ltd. a leading South African, listed financial services and investment holding group.  First prototypes were demonstrated during October 1999 and Version 1.0 (first production ready software release) was available in March 2000.

Sanlam Ltd continued to provide seed capital to the project during 2000, whilst a commercial model and value proposition was formulated and initial marketing and trial development was undertaken.

In August 2000, the assets and in November 2000 the staff of the Sanlam Ltd. project were transferred into Fundamo (Pty) Ltd, a private company wholly owned by Sanlam Ltd.  First round funding was secured and two additional investors were issued shareholding in Fundamo (Pty) Ltd in October 2000, namely Venfin Ltd and Archway Venture Partners.  In addition, a share allocation was made to the Fundamo Staff Share Trust.

In November and December 2000, a technically successful dual network evaluation trial was conducted for a period of three months on two South African mobile operator networks Vodacom and MTN.

With production deployments in South Africa, Zimbabwe and Zambia, reseller relations, revenue generation and a proven superior product in its class, Fundamo is well-placed to deliver significant value to stakeholders.