Julaya, a fintech company based in Côte d’Ivoire, Senegal and France, has raised a $5 million extension round led by European venture capital fund, Speedinvest, to expand its operations in West Africa.
Julaya is a B2B digital account that enables companies to send and collect payments seamlessly through a digital account. With the Julaya platform, African businesses can make bulk payments through all mobile money channels, process their travel or online expenses with a corporate prepaid card tailored to their needs, and easily import all transactions into their accounting system.
The platform helps companies to improve operational efficiency by digitizing their payments to multiple unbanked workers and suppliers. Julaya “Cash & Collect” solution allows fast and secured cash collection, especially in the FMCG sector. More than 500 SMBs, startups, large corporates and government institutions, including famous brands such as Africa’s e-commerce giant Jumia, use Julaya as their digital account to pay their partners and collect payments.
The lead investor, Speedinvest already invested in Moove and FairMoney (Nigeria and India) and has six unicorns in its portfolio. EQ2 Ventures, Kibo Ventures, angel syndicates Unpopular Ventures and Jedar Capital, as well as Ivorian business angel Mohamed Diabi and previous investors Orange Ventures, Saviu, and 50 Partners also invested in the round.