Franco-Ivorian Julaya raises $2 million to digitize payments in West Africa. The fintech startup based in France and Ivory Coast has received funding from business angels and venture capital funds to develop its product in West Africa.

Specializing in digital financial services to businesses and public institutions, Julaya offers an online platform for disbursing payments to mobile money and mobile banking accounts. Their customers range from SMEs to large groups and public treasures, including famous brands like e-commerce giant Jumia. The mobile money market is booming all over Africa. In Ivory Coast, Julaya's largest market, 75% of the population has a mobile money account while less than 25% of Ivorians have a bank account. Transaction and customer growth rates are very steady, exceeding 20% per year, and West Africa is the most dynamic region on the continent. Fintech companies received half of venture capital investments in Africa in the first half of 2021, making it the most attractive technology sector. Julaya collaborates with telephone operators and other fintechs to provide its users with a smooth user experience, often being the first digital experience for its customers in an economy still dominated by cash.