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Djamo It’s one of several digital banking startups destined for the engine of Africa. But different this focus on large shows as well as Nigeria, or South Africa, djamo in Africa Africa and first, Senegal, Senegal. Now serves more than one million customers across the two countries.
The combinator’s dash of resumed only 17 million to expand their product’s socio and thousands of small firms that has in the last two years.
The captain of equity, the largest forever for a start of iuian, Surpasss $ 14 million djamo In 2022 and reflect investor confidence continues in their mission to make the bank and accessible bench.
Co-founder and CEO Hassan Bourgi refused to share the new evaluation but he said he doubled since the last raised.
Djamo founded Bourgi with the English product and technical officer Regis Bamba In 2020 to close access to the gap in the French language Where some adults have bank accounts. Traditional banks is taking on the affluent, leaving most of the cash population, a mobile method that includes the phone number to make financial transactions.
Mobile money was instrumental in financial access in Africa. As for 2022, 28% of adults in sub-Saharan Africa had a mobile money account, for The world bankand the region holds over half of the world’s total. But that progress also created a roof.
Most mobile money platforms offer basic services: cash-in, cash-out, p2p transfers, and bill payments. While useful, do not unlock more advanced financial instruments as credit, investments, or long-term savings.
Djamo is placed between the mobile money and traditional bank. The stale offers the mobile money accessibility with the financial depth of a bank account and a sympathetic palate that is used to deceits to the nigeria.
Their aim is a growing segment, mainly white, which are shortened of the money but they will still find traditional banks dear, inacissible, the founders say.
“These users are evolved” he said wedding. “But they don’t want to go there, in institutions with a predatory station and you are not suitable to become customers are now to the more complex tasts and buildings.”
Product Suite expanding to fit the request
Since our Last coverageDjamo has extended beyond peer-to-peer transfers and transfers. IVORIAN PLENTECH RAIMI offers investing, investment products – Thank you the first license of the region-banked and sudden and sudden-burned bank accounts.
As many Neobanks, Djamo bank attracts that they treat them as a secondary account for the smoother payments and mobile money integration. But is the unobleked, more difficult to activate, which show the long term potential. These users, that make up 55% of the djamo base, often treat apps as their primary financial service.
Bourgi says niche nine in ten users who have recived on djamamo as their main tale come from this segment. To get to more of them, djamo adopted a Hybrid approachBy combining his app with offline agents that meet clients in Person to facilitate the transactions, similar to the mobile model has been admitted through the continent.
Currently, only 5-10% of Djamo users receive wages through the app. “The next phase for us” Bourni said, “Figuring how to move from 10% to 50% of our users who make salaries directly injamo.”
Meanwhile, Tjamo is also ramping inceri for small business-about 10,000 of them, many of which auctioned users. According to CTO BAMBA, the startup now provides the bonds of the payments, and QR code tools to help and manage directly in the app.
The final generates the merchants on the shopping on line card and a fusion plan, than 25% of users pay. Bamba adds the company is exploring additional revenues of revenues, including loan interest and earnings on customer deposits. It is in the process of ensure licenses that will allow you to offer accounts of savings of savings and credit products.
The tuna founders say the company has rendered the company 52 from 2022 and processed more than $ 4. 4.5 billion in transactions by launch.
With its recent expansion in Senegal, Djamal, Djamal, djamal djamated by the waves, one of the largest final finish known for money’s money transfers. But rather than compete directly, djamo self as a complying computing service, which offers a digital bacorary experience where users can store funds as heater, and credited.
Now a 250-people’s team has bets that her new around, has Africanic of Pan-African, the Africa to scale in French Africa-
“We’re afflicted to bring the largest vc in the greater vc in ivory in dedunes in the finish the mission, handed fatoumata bâ
“In a region wherever 25% have an adults have access to formal financial services, this is where a vicinal mission of the vital users and blends and blends economic opportunities on a scale.”
Other investors participating in the rounds of healthy for msems (administered by motion fitness in motion, oikocredit, capitality, capitality.
