*Data updated daily at 18:00 EAT
Ivorian payments-led fintech startup Julaya, which facilitates B2B payments for businesses in Francophone West Africa, mainly via mobile money channels, has extended its pre-Series A round by USD 5 Mn. The round brings the total funding raised by the startup to USD 7 Mn.
European venture capital fund Speedinvest led Julaya’s pre-Series A extension round. EQ2 Ventures, Kibo Ventures, angel syndicates Unpopular Ventures and Jedar Capital, Orange Ventures, Saviu, 50 Partners and Ivorian business angel Mohamed Diabi and professional football player Édouard Mendy also invested in the round.
Julaya was launched to digitize trade payments but started in the Ivory Coast instead of Mali and Burkina Faso. By automating payments to workers and suppliers instead of depending on cash, the platform allows businesses to streamline their accounting and increase operational efficiency. The company helps African businesses and institutions disburse payments to mobile money and mobile banking wallets.