Senegalese company LAfricaMobile securing $4.6 million in Series A funding for their cloud communication growth and expansion
Senegal-Based Cloud Communication Startup LAfricaMobile Secures $4.6 Million in Series A Funding
LAfricaMobile, a cloud communication startup based in Senegal, has successfully completed a US$4.6 million Series A funding round. The round was led by Janngo Capital, with participation from a number of investors including SouthBridge Investments, Ciwara Capital, and Expensya founders Karim Jouni and Jihed Othmani.
The funds will be directed towards expanding LAfricaMobile's operations in Central Africa, as the company aims to provide superior value to its customers and partners. Janngo Capital's founder and executive chair, Fatoumata Ba_, expressed admiration for LAfricaMobile's vision, team, and technological solutions, stating that the investment is intended to enhance the accessibility of local content and support the expansion of the startup's offerings and geographical reach.
LAfricaMobile was founded in 2014 and enables clients to conduct extensive communication campaigns using mobile technologies. The company's services include SMS, USSD, voice, WhatsApp, airtime, and text-to-speech. The startup has forged connections with over 15 countries and 60 operators, resulting in nearly 100 million transactions.
The combined market at the intersection of telecommunications, marketing, and financial services, where LAfricaMobile operates, is projected to reach US$150 billion by 2030. The goal of LAfricaMobile after successfully completing its Series A funding round is to expand and strengthen its operational activities in Central Africa.
In addition to using the funds to strengthen its financial position, LAfricaMobile plans to invest further in its products, particularly through the integration of artificial intelligence. The startup also plans to accelerate its expansion in French-speaking Africa.
The funding round also saw participation from French footballers Aurelien Tchouameni and Jules Kounde, who have expressed support for LAfricaMobile's mission to deliver unique solutions in a substantial market. SouthBridge Investments and Ciwara Capital have also expressed their confidence in LAfricaMobile's potential for growth and impact in the region.
With this new funding, LAfricaMobile is well-positioned to continue its mission of providing innovative communication solutions to clients in Central Africa and beyond.
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