Investment of $4.6 million secured by Senegal's LAfricaMobile during Series A financing for growth in cloud communication services.
Senegalese Cloud Communication Startup LAfricaMobile Secures US$4.6 Million Series A Funding
LAfricaMobile, a cloud communication startup based in Senegal, has secured US$4.6 million in a Series A funding round, marking a significant step forward in the company's growth and expansion plans.
Founded in 2014, LAfricaMobile enables clients to conduct communication campaigns using various mobile technologies. The funding round was led by Janngo Capital, with French footballers Aurelien Tchouameni and Jules Kounde, SouthBridge Investments, Ciwara Capital, and Expensya founders Karim Jouni and Jihed Othmani also participating.
Janngo Capital's founder and executive chair, Fatoumata Bâ, expressed admiration for LAfricaMobile's vision, team, and technological solutions. She expressed support for the startup's expansion, particularly in French-speaking Africa and Central Africa.
LAfricaMobile's value proposition is at the intersection of telecommunications, marketing, and financial services. The integration of artificial intelligence is a key focus for the company's product investments. The funds secured will be directed towards further investing in LAfricaMobile's products, strengthening its financial position, and accelerating its expansion.
The funding round was led by Janngo Capital as a cornerstone investor. The goal of the funding is to enhance the accessibility of local content. With this funding, LAfricaMobile plans to expand its operations, focusing on Central Africa.
The combined market that LAfricaMobile's value proposition addresses is projected to reach US$150 billion by 2030. The startup has forged connections with over 15 countries and 60 operators, resulting in nearly 100 million transactions.
LAfricaMobile's success is a testament to the potential of African startups in the tech sector. The company's expansion will undoubtedly contribute to the growth of the digital economy in the region.
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