LAfricaMobile, a Cloud Communication and Mobile Marketing platform, has always been committed to enable African businesses to create a strong link with their customers on the mobile phone.
Marrakech, May 29, 2024 – During the launch of GITEX AFRICA, 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 millions) 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 invest further in its products, in particular 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 world vice-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 the investment funds SouthBridge Investments and Ciwara Capital.
Investors’ confidence in LAfricaMobile’s strategy and growth potential demonstrates the strength of the company and its promising prospects in French-speaking Africa.
“We are impressed by LAfricaMobile’s vision, the caliber of their team and their technological solutions offering unique services in a huge 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.” stated Fatoumata Bâ, Founder and Executive Chair of Janngo Capital.
“I really believe that entrepreneurs like Malick have the ability to transform African markets and local innovation; in short, exactly the kind of projects Jihed and I like to invest in!” Karim Jouini, Founder of Expensya
“I would like to say that at SouthBridge Investments we support companies that are making a unique contribution to furthering the digital economy with solutions at scale. LAM has not only demonstrated that it can do that in one country but through its dynamic leadership is leading the way to scaling solutions across other geographies”. Frannie Lauthier, CEO of Southbridge Investments, Partner
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 using mobile technologies» assures Malick Diouf, particularly grateful to all the actors who contributed to the development of the company, in particular:
- 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 its customers and employees
About LAfricaMobile
Created in 2014, LAfricaMobile is a company specializing in cloud communication and mobile marketing. It allows its clients to carry out large-scale communication campaigns using mobile technologies (SMS, USSD, Voice, WhatsApp, Airtime, Text-To-Speech) in Africa.
With nearly 100 million transactions, LAM has connected more than 15 countries and 60 operators, with a team made up of nearly 30 passionate professionals with diverse cultural backgrounds.
For further information: www.lafricamobile.com
About Janngo
Janngo builds, grows and invests in pan-African digital champions with proven business models and inclusive social impact. We believe that technology & capital can leapfrog development and achieve SDGs in Africa.
Janngo Capital operates Africa’s largest gender equal technology fund, investing up to €5m in startups solving key market failures while creating green jobs, particularly for women & youth. Our portfolio companies are 56% female-led, 67% francophone and include soonicorn Sabi and fintech champion Expensya. We operate under a full Alternative Investment Fund Management license with main offices in Abidjan & Paris. We are sector agnostic and our portfolio span across healthcare, logistics, financial services, retail, food & agri, mobility & the creative industry.
Janngo Capital is the recipient of the 2023 Gender Equality Award of the Africa CEO forum.
To find out more: www.janngo.africa
For further information: www.janngo.africa
Press contacts:
Mame Diarra Fall, Marketing and Communication Manager,
Tel: +221 77 445 29 04,
Email: d.fall@lafricamobile.com