Funding of $4.6 million secured by LAfricaMobile from Series A investors for growth in cloud communications services in Senegal
LAfricaMobile, a cloud communication startup based in Senegal, has successfully secured US$4.6 million in a Series A funding round. The funding round was led by Janngo Capital, with Fatoumata Bâ serving as the cornerstone investor.
The funding will be used to support the expansion of LAfricaMobile's offerings and geographical reach. The goal of the funding is to provide superior value to LAfricaMobile's customers and partners.
LAfricaMobile was founded in 2014 and has forged connections with over 15 countries and 60 operators, resulting in nearly 100 million transactions. The startup's value proposition is at the intersection of telecommunications, marketing, and financial services.
The combined market that LAfricaMobile's value proposition addresses is projected to reach US$150 billion by 2030. The funds will be directed towards expanding the company's operations in Central Africa and strengthening its financial position.
LAfricaMobile plans to further invest in its products, particularly through the integration of artificial intelligence. The funding round saw participation from French footballers Aurelien Tchouameni and Jules Kounde, as well as Expensya founders Karim Jouni and Jihed Othmani. Other VC firms that participated in the funding round include Outlierz Ventures and Adiwale Partners.
Fatoumata Bâ, the founder and executive chair of Janngo Capital, expressed admiration for LAfricaMobile's vision, team, and technological solutions. She stated that the funding will be used to support the expansion of LAfricaMobile's offerings and geographical reach.
Following the successful completion of its US$4.6 million Series A funding round, LAfricaMobile plans to expand its operations. The startup enables clients to conduct extensive communication campaigns using mobile technologies. With the new funding, LAfricaMobile is poised to make significant strides in the telecommunications, marketing, and financial services sectors.
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