Djamo, a fintech app revolutionizing banking in Francophone Africa, has raised $17 million in funding to expand its services for consumers and SMEs.

Target Company Overview

Djamo is a pioneering financial services application that is transforming mobile banking across Francophone Africa. Founded in 2021 by Regis Bamba and Hassan Bourgi, Djamo addresses the critical need for accessible banking services in a region where traditional banking is often limited. The application targets both individual consumers and small-to-medium enterprises (SMEs) by offering a comprehensive suite of financial services designed to meet the unique needs of digital-first users. Currently operational in Côte d'Ivoire and Senegal, Djamo serves over 1 million customers and 10,000 SMEs, striving to deliver affordable and user-friendly banking solutions.

With recent investments totaling $17 million, Djamo is poised for significant growth. This capital will allow the company to further enhance its platform, introducing superior features for spending, saving, investing, and borrowing. This initiative aligns with Djamo’s mission to bridge the gap in financial services, particularly for those previously excluded from the banking system.

Industry Overview in Côte d’Ivoire

Côte d'Ivoire, a dynamic country in West Africa, is experiencing rapid economic growth, yet access to formal financial services remains limited. Approximately 25% of the adult population holds a bank account, presentin