Fintech firm Bizao, which is located on the Ivory Coast, has secured EUR8 million (US $8.2 million) in Series A capital to increase its commercialisation and enter other African countries.
Bizao, which was established in 2019, makes it easier to handle full payment flows to and from the three most popular digital payment methods in Africa: mobile wallets, airtime, and credit cards. Customers may collect and issue payments online and in-store using the startup’s flexible and scalable technology (POS).
Bizao has grown its business in just three years into nine more African countries, mostly in Francophone Africa. It has developed a cutting-edge infrastructure that handles more than 350 million payment requests monthly. With telecom operators, banks, and mobile money service providers, the firm has more than 30 agreements.
Following an EUR8 million Series A fundraising from investors including AfricInvest, Adelie, and Seedstars Africa Ventures, it is now prepared for future development. Bizao will build up the commercialisation of its payment hub with the help of this finance and extend its reach to more new nations.
