West Africa fintech startup Julaya has raised $2 million in a pre-Serie A investment from MFS Africa and Orange Ventures (both corporate venture firms) and Launch Africa, Saviu Ventures, and 50 Partners Capital, in addition to African and European angel investors.
Operating in francophone West Africa, the company looks to expand its offering across the region. The startup was founded in 2018 by Charles Talbot and Mathias Leopoldie both of whom previosuly worked for the French payment firm LemonWay.
The funding in a build onto the $250,000 pre-seed investment raised in 2018 and an additional $550,000 seed investment in 2019 – both from angel investors.
Julaya offers a B2B payment solution that enables African enterprises and government organizations to send their payments through mobile money and mobile banking wallets. There are two offices run by the company, one for R&D that hosts the IT team based in Paris (working remotely), and the other in Abidjan, Côte d’Ivoire. Cumulatively, the startup employs 16 across its offices.
Julaya’s customers comprise small businesses, major corporations, and government agencies. The company works in the B2B payments sector giving governments and African internet enterprises a platform to send money through mobile banking wallets and mobile money.
Among Julaya’s customers are Jumia, Ministry of Education Ivory Coast, SODECI, The World Bank, etc. According to the company, they currently processing $1.5 million in transactions for 50 of these clients.
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