What’s this about?
- LAfricaMobile, an Ivory Coast-based cloud communication startup, raised $4.6 million in Series A funding to expand across French-speaking Africa.
- The company, founded in 2014, facilitates large-scale communication campaigns via mobile technologies and has connected over 15 countries and 60 operators.
- Led by Janngo Capital and joined by notable investors, the funds will help LAfricaMobile enhance its financial position, expand in Central Africa, and integrate AI to improve its services.
Zoom in…
Ivory Coast-based cloud communication startup LAfricaMobile has raised a US$4.6 million Series A round of funding to accelerate its expansion across French-speaking Africa.
Founded in 2014, LAfricaMobile allows clients to carry out large-scale communication campaigns using mobile technologies like SMS, USSD, voice, WhatsApp, airtime and text-to-speech.
With nearly 100 million transactions, LAM has connected more than 15 countries and 60 operators, and it is now planning on expanding its operations after closing its US$4.6 million Series A round.
The round was led by Janngo Capital, and also included French footballers Aurélien Tchouaméni and Jules Koundé. Expensya founders Karim Jouni and Jihed Othmani also invested, as did VC firms SouthBridge Investments and Ciwara Capital.
What they’re saying…
“We are impressed by LAfricaMobile’s vision, the calibre of their team, and their technological solutions offering unique services in a huge market,” said Fatoumata Bâ, founder and executive chair of Janngo Capital.
“Indeed, their value proposition at the intersection of telecommunications, marketing and financial services efficiently addresses a combined market projected to hit US$150 billion by 2030. We are honoured to lead this funding round as a cornerstone investor to support both the expansion of their offering and geographical footprint while improving the accessibility of local content.”
The big Picture
LAfricaMobile will use the funding to consolidate its financial position and accelerate its expansion in French-speaking Africa. The funds will be used to develop the company’s activities in Central Africa and to invest further in its products, particularly by integrating artificial intelligence, to offer better-added value to its customers and partners.
Source: disruptafrica.com
