Africa-Based Fintech Startup Raises $8.15M In Series A Funding
Bizao has raised $8.15 million in Series A funding. The funding round was led by AfricInvest, Adelie, and Seedstars Africa Ventures and will help the platform accelerate its expansion, helping them provide services to citizens across the continent.
Bizao, founded in 2019 by Aurélien Duval-Delort, helps companies accept all local payment methods across Africa. The tech platform uses powerful APIs and advanced financial flows to simplify the challenge of getting Mobile Money, Visa/Mastercard, and Airtime payments. The outlet powers all businesses: local retailers, online merchants, international digital content providers, money transfer operators, and microfinance institutions.
“We have spent the last few years working closely with our partners to improve our products and services in line with our customer requirements,” said Aurélien Delort-Duval, founder of Bizao.
“This round of financing will enable us to design new product lines for high-potential vertically integrated organizations, expand in new markets and grow the team across all our offices.”
The fast-growing company operates in ten African countries: Burkina Faso, Cameroon, Côte d’Ivoire, Guinea, Mali, the Democratic Republic of the Congo, Senegal, Tunisia, Togo, and Gabon. Handling over 350 million payment requests each month, Bizao has supported around 100 companies in digitizing their online and in-store payment methods.
The startup’s platform already covers 200 million end customers and allows clients to collect and issue payments online by providing end-to-end transaction traceability.