The Meeting of Francophone Entrepreneurs (REF) and the African CIO Awards, LAfricaMobile , which actively participates in these three events, announced a fundraising of €4.3 million ($4.6 million) for its series A.
This fundraising will allow LAfricaMobile 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 further invest in its products, particularly by integrating artificial intelligence in order to offer better added value to its customers and partners according to Malick DIOUF CEO and Co-founder of LAfricaMobile.
This funding round, led by Janngo Capital , brought together the participation of several leading investors:
- the vice-world champions, Aurélien Tchouaméni and Jules Koundé of the French Football team
- the brilliant founders of Expensya , Karim Jouni and Jihed Othmani (Tunisian Success Story – The beautiful African exit of 2023)
- And investment funds SouthBridge Investments and Ciwara Capital .
Investors’ confidence in LAfricaMobile ‘s strategy and growth potential is a testament to the company’s strength and its promising prospects in French-speaking Africa.
We were convinced by LAfricaMobile’s vision, the quality of their team and their technological solution offering unique services in a particularly promising market. Their value proposition, at the intersection of financial services, telecommunications and marketing, allows them to effectively address a market estimated at nearly US$150 billion by 2030. We are proud to lead this round of funding as a reference investor in order to support a dual expansion of their offer and their countries of establishment while ensuring better accessibility of content in local languages.
Fatoumata Bâ, Founder and Executive Chairwoman, Janngo Capital
I truly believe that entrepreneurs like Malick have the capacity to transform African markets as well as local innovation; in summary, exactly the type of projects Jihed and I like to invest in!
Karim Jouini, Founder, Expensya
At SouthBridge Investments, we support companies that make a unique contribution to advancing the digital economy with solutions at scale. LAM has not only demonstrated that it can do this in one country, but through its dynamic leadership, it is paving the way to scale the solutions in other geographies.
Frannie Léautier , CEO, Southbridge Investments
With this fundraising, LAfricaMobile is well positioned to continue its rapid and sustainable development in French-speaking Africa.
This is a decisive step in the development of our company, which has already supported more than 300 companies in Africa and established more than 60 partnerships with telecom operators on the continent. Our ambition is to support all companies wherever they are in Africa in their relationship with their customers thanks to mobile technologies.
Malick DIOUF CEO and Co-founder, LAfricaMobile
- its historical investors Teranga Capital and Abysse
- its ecosystem partners NTF5, OPTIC, SenStartup, CTIC, ARTP, ADEPME, DER, 3FPT, H7, Stanford Seed Program
- its telecoms partners: regulatory authorities, operators, MVNOs and aggregators
- all of its customers and employees
