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HUB2, a fintech startup with a Francophone focus, has raised EUR8 million (US$8.4 million) in a Series A round of funding to help it expand throughout the area.
The company has developed a smooth, safe platform that unifies national and cross-border financial services across a variety of payment methods.
With involvement from Dutch entrepreneurial development bank FMO, Enza Capital, French public investment bank BPI France, AXIAN, DCG, African Fintech Collective, Eric Barbier, and ENL Corporate ventures, TLcom Capital led the Series A funding round.
HUB2, which was founded in 2019 by Ashley Gaüzère and co-CEOed by Jean-Rémi Kouchakji in 2023, offers digital businesses a single API that makes it possible for them to process national and international payments using mobile money, bank transfers, card payments, and cryptocurrency effectively.
HUB2 guarantees extensive coverage and smooth integration across payment methods by collaborating with top mobile money providers in the area, such as Wave, Orange, MTN, Moov, Free, T-Money, and Celtiis. Top fintechs like Djamo, Onafriq, and Daba Finance rely on the business as a partner.
“After two decades in telecom, I saw the need for high-quality, interoperable payment solutions across Africa. HUB2 was built to bridge this gap, creating infrastructure that the industry can rely on,” according to Gaüzère.
“With this funding, HUB2 is well-positioned to strengthen our Francophone footprint and expand strategically across Africa. Our choice of diverse international investors reflects our ambition to scale continent-wide,” Gaüzère added.
“We’re proud to work with HUB2 as the company extends its reach across Francophone Africa. HUB2’s achievements in the region, combined with TLcom’s track record in Anglophone markets, create a powerful partnership that will make digital payments more accessible across the continent. We are confident in the vision and execution of HUB2’s co-founders, Ashley and Jean-Rémi, to create Francophone Africa’s next payments champion,” said Eloho Omame, partner at TLcom Capital.
Ivory Coast, Senegal, Burkina Faso, Benin, Togo, and Cameroon are the six Francophone African nations where HUB2 now operates. Within the following 24 months, the company intends to grow throughout the entire region, from Senegal to Madagascar.
Read more on Tech Gist Africa:
StarNews Mobile, based in the Ivory Coast, has received $3 million in funding
Anka, an e-commerce platform based in the Ivory Coast, has raised $5 million
Bizao, a fintech startup based in the Ivory Coast, raises $8.2 million
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