Ivorian fintech startup Djamo has raised $17 million in a major funding round, setting a new record for startups in Côte d’Ivoire and reinforcing the rising momentum of Francophone Africa’s fintech sector. With this funding, Djamo plans to expand its services and reach even more underbanked individuals across the region, particularly in Côte d’Ivoire and Senegal where it already boasts over one million users.
Launched in 2020, Djamo was built to address a persistent gap in Francophone West Africa’s financial ecosystem—where traditional banks serve mainly the wealthy, leaving most of the population reliant on basic mobile money platforms. Djamo steps into this space by offering an accessible, digital-first alternative that bridges the divide between mobile money and conventional banking.
Its product suite has grown from basic peer-to-peer transfers and payment cards to include savings tools and investment products. Notably, Djamo became the first fintech in the region to receive a brokerage license, opening up investment opportunities to users previously excluded from such services.
This $17 million raise surpasses the company’s 2022 Series A funding of $14 million and will be used to improve product development, scale operations, and drive deeper financial access across Francophone Africa. Investors have shown growing confidence in the startup’s strategy of building services tailored specifically to local needs.
Djamo’s rapid rise underscores both the demand for inclusive financial solutions and the transformative potential of fintech in underserved markets. By offering a viable alternative to traditional banking and mobile money alone, the startup is setting a blueprint for what financial inclusion could look like in other parts of Africa.
With more people across the region turning to digital solutions for their financial needs, Djamo’s expansion could mark a turning point for how fintech shapes everyday economic life in Francophone Africa.
