LAfricaMobile, a prominent player in cloud communication, has announced a successful €4.3 million ($4.6 million) Series A funding round. This announcement was made during the launch of GITEX AFRICA, the Meeting of Francophone Entrepreneurs (REF), and the African CIO Awards, where LAfricaMobile played an active role.

Strengthening Financial Position and Expansion

The raised funds will enable LAfricaMobile to solidify its financial standing and expedite its growth across French-speaking Africa. CEO and co-founder Malick Diouf highlighted that the investment will primarily focus on expanding the company's presence in Central Africa and enhancing its product offerings, particularly by integrating artificial intelligence to deliver superior value to its clients and partners.

Investment in Innovation

The company plans to leverage AI technology to refine its services further, aiming to provide enhanced value to customers and partners. This strategic move is expected to strengthen LAfricaMobile’s market position and attract more clientele by offering cutting-edge communication solutions.

Janngo Capital Leads the Round

The funding round was spearheaded by Janngo Capital, with significant contributions from high-profile investors, including:

  • Aurélien Tchouaméni and Jules Koundé, vice-champions of the French Football team
  • Karim Jouini and Jihed Othmani, founders of Expensya
  • Investment funds SouthBridge Investments and Ciwara Capital

Investor Statements

Fatoumata Bâ, Founder and Executive Chair of Janngo Capital:
“We are impressed by LAfricaMobile’s vision, the caliber of their team, and their technological solutions offering unique services in a massive market. Their value proposition at the intersection of telecommunications, marketing, and financial services efficiently addresses a market projected to hit US$150 billion by 2030. We are honored to lead this funding round to support both their expansion and the accessibility of local content.”

Karim Jouini, Founder of Expensya:
“I believe entrepreneurs like Malick can transform African markets and local innovation. These are exactly the kinds of projects Jihed and I like to invest in!”

Frannie Lauthier, CEO of SouthBridge Investments:
“At SouthBridge Investments, we support companies that significantly contribute to the digital economy with scalable solutions. LAM has shown its capability to do this in one country and is now leading the way to scale solutions across other regions.”

LAfricaMobile's Trajectory and Ambitions

LAfricaMobile has already supported over 300 companies across Africa and established more than 60 partnerships with telecom operators on the continent. This solid foundation sets the stage for their continued rapid and sustainable growth.

Malick Diouf, CEO and Co-founder of LAfricaMobile:
“This fundraising marks a decisive step in our development. Our ambition is to support all companies in Africa in their relationship with their customers using mobile technologies. We are particularly grateful to all who contributed to our growth, including our historical investors Teranga Capital and Abysse, and our ecosystem partners.”

Ecosystem and Support Network

LAfricaMobile’s ecosystem includes support from various organizations such as NTF5, OPTIC, SenStartup, CTIC, ARTP, ADEPME, DER, 3FPT, H7, and the Stanford Seed Program. They also maintain strong relationships with telecom partners, regulatory authorities, operators, MVNOs, and aggregators, which are crucial for their continued expansion and success.