Julaya raises $5M extension

Julaya, a Fintech based in Côte d’Ivoire, Senegal, and France has raised $5M extension round to expand its operations in West Africa. 

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Fintech Julaya has raised $5M extension round led by European venture capital fund Speedinvest, EQ2 Ventures, Kibo Ventures, angel syndicate Unpopular Ventures, and Jedar Capital, and previous investors Orange Ventures, Saviu, and 50 Partners also invested in the round. Julaya is a B2B digital account that enables companies to send and collect payments seamlessly through a digital account.

Many milestones were achieved by FinTech startups across the MEAPT region this year. The FinTech frenzy across Africa has been truly remarkable this year, where FinTech was the leading industry either in terms of funding or in total transactions in all top markets of the region.  Nigeria was the leading geography of the industry H1’22 largely driven by a $250M Mega round recorded by FinTech startup Flutterwave. Kenya was also party to the FinTech frenzy with M-Kopa closing a $75M round. FinTech startups in the continent didn't just limit themselves to payment solutions, steady investment and entrepreneurial traction is being recorded in cryptocurrency, BNPL, e-wallets, neobanking, and lending startups including the likes of Fido, Jambo, MFS Africa, and Interswitch closing major rounds this year.

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With the Julaya platform, African businesses can make bulk payments through all mobile money channels, process their travel or online expenses with a corporate prepaid card tailored to their needs, and easily import all transactions into their accounting system. “African companies are eager to improve their profitability, and digitizing their finances is one of the most important steps to grow their business. 90% of payments are still made in cash on the continent, and Julaya is proud to be part of the fintech landscape that helps businesses be more successful.” said Mathias Léopoldie, CEO & co-founder.

The platform helps companies to improve operational efficiency by digitizing their payments to multiple unbanked workers and suppliers. Julaya “Cash & Collect” solution allows fast and secured cash collection, especially in the FMCG sector. Julaya's technology is fundamentally changing how companies operate in an increasingly complex payment landscape across Francophone Africa. As we look ahead, the potential for Julaya's technology goes far beyond its payment capabilities, having the opportunity to become a close banking partner for companies in West Africa,” said Enrique Martinez-Haussmann, Principal at Speedinvest.

According to the company, this financing round will enable Julaya to expand in the West African market, open Benin, Togo, and Burkina Faso offices hire multicultural talents, and boost product development. I believe helping companies transition to easy-to-use digital solutions makes a real difference in their daily activities. I’m confident that the talented team at Julaya will play a decisive role in the rise of digital financial solutions in Africa.” concluded Edouard Mendy.

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