Senegal-based LAfricaMobile has secured a significant milestone in its growth journey, closing a $7 million (€6.5 million) Series A funding round. Leading the final phase of this round was Bpifrance, the French state-backed investment bank, which joined a consortium of high-profile investors that include Janngo Capital, Southbridge Investments, and Ciwara Capital. This marks a pivotal moment for the company as it sets its sights on expanding its foothold in the rapidly growing Francophone African market.
Founded in 2014 by Malick Diouf, a telecommunications engineer turned tech entrepreneur, LAfricaMobile specializes in cloud communication and artificial intelligence (AI). Its platform connects businesses with their customers using a suite of mobile technologies, including SMS, USSD, voice messaging, WhatsApp, airtime top-ups, and text-to-speech functionalities. By facilitating large-scale, multi-channel communication campaigns, the company has rapidly gained traction with clients across sectors such as banking, insurance, fintech, healthcare, education, and agriculture.
“We are thrilled to have reached this milestone,” said Malick Diouf, CEO of LAfricaMobile. “This funding round not only reflects investor confidence in our vision but also empowers us to accelerate digital transformation for businesses across Francophone Africa. Our goal is to make mobile communication inclusive and impactful for communities, ensuring our services address both enterprise needs and societal challenges.”
LAfricaMobile plans to channel the funds towards deepening its presence in Central Africa and enhancing its product offerings through advanced AI integration. The company envisions leveraging AI to further personalize communication strategies for its clients, fostering deeper engagement with end-users across the continent.
Bpifrance’s backing underscores the increasing interest of European investors in Africa’s burgeoning tech ecosystem. The investment also reflects confidence in the scalability of LAfricaMobile’s model, which has already achieved connections with over 60 telecom operators in 18 African countries and served more than 300 corporate clients.
“LAfricaMobile is at a transformative juncture, combining the dynamism of African innovation with the robust growth of the digital economy,” said Raymond Mendy, Executive Director of LAfricaMobile. “This funding will help us meet the demand for reliable and scalable solutions that empower organizations to engage with their audiences effectively.”
This Series A round builds on a strong foundation laid during earlier funding stages. The company raised €500,000 in seed funding in 2020 and secured €4.3 million ($4.6 million) in the first tranche of its Series A in April 2024. Notable participants in earlier rounds included African-focused funds Janngo Capital and Southbridge Investments, as well as individual investors like French footballers Aurélien Tchouaméni and Jules Koundé and Expensya founders Karim Jouini and Jihed Othmani.
Fatoumata Bâ, founder of Janngo Capital, praised LAfricaMobile’s innovative approach. “Their value proposition uniquely addresses the intersection of telecommunications, marketing, and financial services, targeting a market projected to exceed $150 billion by 2030. We are proud to support their expansion.”
With its headquarters in Dakar and operations spanning 15 countries, LAfricaMobile has processed over 100 million transactions since its inception. Its success stems not only from its technological innovations but also from its focus on building an inclusive digital ecosystem. The company has cultivated partnerships with NGOs, media outlets, government agencies, and telecom operators to extend its reach and impact.
“Entrepreneurs like Malick Diouf are shaping Africa’s future through local innovation,” said Karim Jouini, co-founder of Expensya and an investor in LAfricaMobile. “Their ability to transform markets and deliver solutions at scale exemplifies the transformative potential of Africa’s tech sector.”
As LAfricaMobile positions itself as a leader in Francophone Africa’s digital landscape, its latest funding round highlights the growing synergy between African tech startups and global investors. The firm’s expansion strategy, backed by cutting-edge AI integration, reflects its ambition to lead in cloud communication while fostering economic growth across the continent.
With this infusion of capital and confidence, LAfricaMobile is well-equipped to drive digital transformation and redefine mobile communication in Africa.