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Ivory Coast cloud communication startup LAfricaMobile raised $4.6 M Series A funding

LAfricaMobile, an Ivory Coast-based cloud communication startup, has raised US $4.6 million in a Series A funding round to expedite its expansion throughout French-speaking Africa.

Using mobile technologies like SMS, USSD, voice, WhatsApp, airtime, and text-to-speech, LAfricaMobile, which was founded in 2014, enables clients to execute extensive communication campaigns.

LAM has connected over 15 countries and 60 operators with nearly 100 million transactions. Following the completion of its US$4.6 million Series A round, the company plans to expand.

Football players Aurélien Tchouaméni and Jules Koundé, both from France, were in the lead in the round led by Janngo Capital. Along with VC firms SouthBridge Investments and Ciwara Capital, other investors included Karim Jouni and Jihed Othmani, the founders of Expensya.

LAfricaMobile will use the money to strengthen its financial position and quicken its growth throughout French-speaking Africa. The funds will be utilized to expand the business’s operations in Central Africa and to make additional product investments, specifically integrating artificial intelligence to improve the added value that the company can provide to its partners and clients.

“We are impressed by LAfricaMobile’s vision, the calibre of their team, and their technological solutions offering unique services in a huge market,” said Fatoumata Bâ, founder and executive chair of Janngo Capital.

“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 honoured 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.”

 

 

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