Djamo Raises $14M in Equity Funding

Djamo, an Abidjan, Côte d’ivoire-based personal finance company, raised $14M in Equity funding.

The round was co-led by Enza Capital, Oikocredit, and Partech Africa, with participation from Janngo Capital, P1 ventures, Axian, and Launch Africa.

The company intends to use the funds to expand to new markets and continue building a full suite of personal finance services to further empower its customers across the region.

Co-Founded by Regis Bamba and Hassan Bourgi, Djamo provides a personal finance app for consumers in french speaking Africa where less than 25% of adults have a bank account. The company’s mission is to enable access to simple and affordable banking to hundreds of millions of Africans living across the African Francophone region. Djamo partners with regional banks to offer a mobile-first service, delivering a Visa card within 2 days of creating an account without monthly fees or overdraft charges. The company has rolled out 3 additional services this year: virtual accounts, automatic saving and a product to receive salaries, complementing the existing local and cross border payment offer available with the App and card.