Ivory Coast-Based Payments Fintech Secures $5 Million From Its Pre-Series A Funding Round
The Ivorian payments financial technology (fintech) startup, Julaya, recently concluded its pre-Series A round with an additional $5 million capital raise. This brings to $7 million the total capital that the fintech startup, which specializes in business-to-business payments, has raised in this series. Senegalese Footballer Édouard Mendy Participates in the Series
An Ivory Coast-based payments fintech startup, Julaya, recently concluded its pre-Series A funding round with an additional $5 million, a report has said. With this latest capital raise, Julaya has now raised a total of $7 million in this funding round.
The funding round was led by a European venture capital fund Speedinvest with the participation of EQ2 Ventures, Kibo Ventures plus the angel syndicates Unpopular Ventures and Jedar Capital. Existing Julaya investors that also participated in this round include Orange Ventures, Saviu, and 50 Partners. Senegal and English football club Chelsea’s goalkeeper, Édouard Mendy also participated in the round. Going Beyond Regular Cards Services
According to his comments published by Techcrunch, Julaya co-founder and chief executive officer (CEO), said the fintech startup’s availing of standard card services to mobile money users in West Africa has made a difference. Léopoldie, however, shared his thoughts on why it was important for Julaya to offer services beyond regular card services.
“Our sense or strategy with the cards is to provide a full range of service. Because if you have just cards, I don’t think you could build a great startup with a lot [of] traction as you would like, for example, in the U.S. The card payment industry, except for South Africa, maybe Nigeria and a little bit in Egypt, is a developing one and while you might be able to grow a business on that, it’s almost impossible in our region [Francophone Africa],” Léopoldie reportedly said during an interview with Techcrunch.
Concerning Mendy’s participation in Julaya’s pre-Series A round, Léopoldie said he thought this showed how just far “ahead of the curve” this goalkeeper is. According to the CEO, Mendy’s being a Senegalese also helps because it inspires other Africans to follow in his footsteps and become investors.
Register your email here to get a weekly update on African news sent to your inbox:
Tags in this story b2b, Chelsea Football Club, Édouard Mendy, Fintech, francophone africa, Julaya, Mathias Léopoldie
What are your thoughts on this story? Let us know what you think in the comments section below. Terence Zimwara
Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route. Crypto Payment Infrastructure Firm Opennode to Test Bitcoin Payments in Bahrain FINTECH | Sep 18, 2022 Ghanaian Central Bank Allays Fears That a CBDC Will Disrupt Mobile Money Operations FINTECH | Sep 4, 2022
Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: Agre guy thony roger / Shutterstock.com Previous articleCrypto Payments May Not Help Russia Bypass Sanctions, Experts Say Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFollowing a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days
Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament Today"s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales Privacy-Centric Monero Plans for July Hard Fork, Plans Include Ring Signature, Bulletproof Upgrade