Y Combinator-Backed Neobank Djamo Raises $17 Million, Serving Over 1M Users in Francophone Africa

Djamo, the YCombinator-backed neobank founded in 2020 by Hassan Bourgi and Régis Bamba, has successfully raised $17 million in equity funding to extend its reach across Francophone West Africa.

The fintech startup, headquartered in Côte d’Ivoire with a recent expansion into Senegal, now serves over one million users and has processed more than $4.5 billion in transactions since its inception.

Focusing on bridging the financial inclusion gap left by traditional banks and mobile money operators, Djamo provides a comprehensive suite of digital banking services—ranging from savings and investments to salary-linked accounts. Its approach combines mobile-first convenience with offline agent support, ensuring that over 55% of its users rely on Djamo as their primary financial provider.

Additionally, the company is expanding its offerings for small businesses, delivering integrated payment and merchant service tools within the same platform.

Led by Janngo Capital, with backing from SANAD Fund for MSMEs, Partech, Oikocredit, Enza Capital, and Y Combinator, this round represents the largest VC raise ever for a startup in Côte d’Ivoire.

With a growing team of 250 and revenue that has quintupled since 2022, Djamo is on track to become the premier digital banking platform for the emerging middle class in Francophone Africa, catering to both individual consumers and an increasing number of SMEs with tailored financial solutions for a rapidly evolving market.