INFOGRAPHIC: Startup Funding in Africa and the Middle East — Week 49
Here are the venture funding activities we tracked in the Middle East and African region this week – including HUB2, Aanaab, FireDome, Playgama, Nowlun, Enakl, and Tunzaa.
- Ivory Coast’s fintech startup HUB2 gets $8.5M investment to become the ‘Stripe for Francophone Africa
- Saudi edtech company Aanaab nets $7M Series A to expand its operations
- Israeli autonomous wildfire defense startup FireDome banks $4.5M in funding to improve wildfire tech
- Dubai game tech startup Playgama closes $3M funding to step up Web gaming development
- Egypt’s logistics platform Nowlun receives $1.7M Seed round to revolutionize the logistics industry
- Moroccan mobility startup Enakl lands $1.4M pre-seed to transform urban mobility
- Tanzanian fintech startup Tunzaa secures undisclosed funding to help it scale
Ivory Coast fintech startup HUB2 gets $8.5M investment to become the ‘Stripe for Francophone Africa’
Ivorian-based fintech startup HUB2 has secured $8.5 million (€8 million) in a Series A funding round led by TLcom Capital–a UK-based fintech, with participation from FMO, Enza Capital, BPI France, AXIAN, DCG, African Fintech Collective, Eric Barbier, and ENL Corporate Ventures.
Since its inception, the startup has partnered with leading mobile money operators such as Wave, Orange, MTN, Moov, Free, T-Money, and Celtiis, with the sole aim of becoming "the Stripe of Francophone Africa,” inspired by the U.S.-based payment company valued at $70 billion.
Established in 2019 by Ashley Gaüzère, and co-founder Jean-Rémi Kouchakji, HUB2 offers a single API solution that enables digital businesses to process payments through mobile money, bank transfers, card payments, and cryptocurrency.
Currently, the company serves prominent fintechs like Djamo, Onafriq, and Daba Finance, operating in six Francophone African countries—Ivory Coast, Senegal, Burkina Faso, Benin, Togo, and Cameroon.
The new funding will enable HUB2 to scale its seamless and secure platform to enhance its Francophone footprint and advance its vision of revolutionizing payment solutions across Africa.
