Djamo Selected For Y Combinator Accelerator

Djamo, a fintech app based in Ivory Coast, has been selected to join the Y Combinator startup accelerator.

The startup will receive US$125,000 in seed funding as well as further support and investment opportunities.

This will mark the second investment for Djamo after it raised a pre-seed investment of $350,000 from private investors in 2019.

Djamo was founded by Hassan Bourgi and Regis Bamba to eliminate the hassle of accessing quality and affordable banking services in Ivory Coast. The startup took advantage of the recent mobile money boom to offer alternative banking solutions to the 65% of French-speaking African adults who do not have a bank account.

“Since day one we wanted to design a mobile-first platform that can break into the masses; our combined experience building mass-market consumer products is in every inch of Djamo’s app, people love the experience and talk about it to their friends and families, this is why our significant growth is coming organically through word of mouth,” explained Bourgi.

Djamo allows users to make online payments for certain services such as Amazon, Alibaba, Netflix. The platform additionally offers an attractive pricing policy, VISA debit cards and other investment and savings solutions.

Currently, the startup’s customer number stands at 90,000 with 50,000 transactions being processed per month.