Ivory Coast-based fintech startup Bizao raises $8.2 million in funding

Bizao, a Paris-headquartered fintech startup based in Ivory Coast and operating and expanding across Africa, has raised $8.2 million in its Series A funding round to enter new markets on the continent.

• The fund will be invested in scaling the commercialisation of its payment hub and expanding its operations to more countries.
• Founded in 2019, Bizao facilitates the processing of end-to-end payment flows, to and from the main digital payment system in Africa, including airtime, mobile money, and credit card.
• The startup has 20xed its transaction volumes in the last 12 months.
• AfricInvest, Adelie, and Seedstars Africa Venture participated in the funding round.