LAfricaMobile, a cloud communication startup based in Senegal, has secured US$4.6 million in a Series A round of funding to expedite its expansion across French-speaking Africa.
French footballers Aurélien Tchouaméni and Jules Koundé were also involved in the round, which was led by Janngo Capital. VC firms SouthBridge Investments and Ciwara Capital, as well as Expensya founders Karim Jouni and Jihed Othmani, also made investments.
LAfricaMobile, which was founded in 2014, enables clients to execute extensive communication campaigns through the utilization of mobile technologies such as SMS, USSD, voice, WhatsApp, airtime, and text-to-speech.
LAM has established connections with over 15 countries and 60 operators, totaling nearly 100 million transactions. After the completion of its US$4.6 million Series A round, the company intends to broaden its operations.
Fatoumata Bâ, the founder and executive chair of Janngo Capital, expressed her admiration for LAfricaMobile’s vision, the caliber of their team, and their technological solutions, which provide distinctive services in a vast market.
“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 honored 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.”
LAfricaMobile intends to leverage the funding to fortify its financial position and expedite its expansion in French-speaking Africa.
The funds will be allocated to the expansion of the company’s operations in Central Africa and to further investment in its products, particularly through the integration of artificial intelligence to provide superior value to its customers and partners.
Read more on Tech Gist Africa:
Maad, a Senegalese logistics platform, has raised $3.2 million in seed funding
Logidoo, a Senegalese logistics marketplace, has raised $1.5 million in funding
ProXAlys, a retail technology startup based in Senegal, secures a $500k funding round
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