Djamo It is one of the few digital banks in the target of the undergraduate of Africa. However, Nigeria, Egyptian or South Africa, Djamo, FrancoFone in West Africa, especially the Ivory Coast, and more soon came a place in Senegal. Now it serves more than one million customers between the two countries.
YB Combinator-Supported Fintech, the product set for these retailers and thousands of more than the last two years has won $ 17 million to expand.
Capital round, the largest for a Ivorian start, Exceeds Djamo’s $ 14 million series In 2022 and the banking reflects the confidence of its mission to obtain and make favorable.
Co-founder and CEO Hassan Bourgi refused to share the new assessment but doubled since the last rise.
Bourgi set up Djamo with chief crop and technician Régis Bamba In 2020 to close the financial entry space in French-speaking African countries Here are a little adult There are bank accounts. Traditional banks in the region are often a cheaper method of using the population’s mobile money, use of phone numbers to make financial transactions, the majority of the population.
Mobile money was instrumental in expanding financial entrance throughout Africa. Since 2022, 28% of the adults in Sub-Saharan Africa were mobile money account World BankAnd the region keeps more than half of the world. However, this progress also created a ceiling.
Most mobile money platforms offer basic services: cash, cash, P2P transfers and bill payments. While useful, they do not unlock more advanced financial instruments such as credit, investment or long-term deposit.
Djamo places itself between mobile money and traditional banking. The beginning offers a bank account with financial depth of a bank account, a bank account that is owned by SoftBank, SoftBank, which is used to a scale of ten million in Nigeria to the scale of ten million customers.
His goal is to explode the wallets of mobile money, but still traditional banks are a growing segment of young customers who are expensive, obsolete or inaccessible or inaccessible or inaccessible, but traditional banks.
« These users are developing, » said Bourgi. « But they do not want to go to the bodies with prey prices and the new generation of customers. This is what we build, it is now more complex, rich financing. »
Expand product set to requirement
From us the lastDjamo expanded from cards and peers outside the transfers. Ivorian Fintech now offers savings boxes, investment products – Thanks to the bank accounts associated with the first Fintech-given brokerage license and salary of the region, it is important to increase the customer’s sign.
Like many neobanks, Djamo attracts banking users who behave as a second account for smoother, smoother payments and mobile money integration. However, it is more difficult to activate, to activate, showing more long-term potential. These users who make up more than 55% of the djamo base, often treat the application as a basic financial service.
Bourgi says the nine of the ten users who trust in Djamo come from this segment. To reach more of them, Djamo accepted a hybrid approachCombining the application with customers with offline agents who personally met customers, to facilitate the mobile money model similar operations, the continent is more widely accepted by Fintechs.
Currently, only 5-10% of DJAMO users receive salaries through application. « The next stage for us, » he said.
Meanwhile, Djamo also serves for small businesses, about 10,000 of them, many started as a retailer user. According to CTO Bamba, the beginning now provides bulk payments, payment links and QR code tools to help merchants directly accept and manage.
Fintech generates a premium level plan to pay for merchant fees in online card purchases and create a premium level plan to pay users 25%. The Bamba adds that the company is to investigate additional income streams, including interest on credit and customer savings. This is in the process of ensuring licenses that allow interest-bearing savings accounts and credit products.
The founders of Djamo say that the company has received more than 5x income since 2022 and has conducted more than $ 4.5 billion without launch.
With the latest expansion of Senegal, Djamo, Africa’s largest Fintechs, known for the cheapest mobile money transfers, entered a market dominated by Fintechs. However, instead of direct competition, Djamo places the self-complementary service by offering a digital banking experience that users can store funds and enter more advanced tools such as savings, investment and credit.
Now a team of 250 people, Djamo, PAN-Africa, new financing, which occurred by genital vC Janngo Capital, will help you scaling these services within French-speaking Africa.
« We are excited to lead Djamo to double the largest VC tour on the Ivory Coast and have access to the financial services between West Africa in Djamo, in Djamo, » he said.
« In an area where women with less than 25% of adults have access to official financial services, this is one-third of women, this is a vital mission.
Other investors involved in the round include MSMES (managed by finance in action), Partech, Oikocredit, Enza Capital and Y.
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