Ivory Coast-based FinTech company Bizao has reportedly received $8.2m in its Series A funding round.
The capital was supplied by AfricInvest, Adelie and Seedstars Africa, according to a report from Disrupt Africa.
With the funds, Bizao plans to scale its commercialisation and expand into more countries.
The company, which was founded in 2019, is accelerating digital payments across Africa. Its platform offers a variety of payment services, including mobile payments, online transactions and point-of-sale terminals.
It also boasts a dashboard to help companies monitor their payments and improve user experiences to build customer loyalty.
Bizao founder and CEO Aurélien Delort-Duval said, “We have spent the last few years working closely with our partners to improve our products and services in line with our customer requirements. Thanks to this close collaboration with industry players, we have multiplied the transaction volumes processed by our platform by almost 20 over the past 12 months.”
Earlier in the year, Mali-based InsurTech startup OKO raised $500,000 in a seed extension round. It raised the capital to support its launch in the Ivory Coast. OKO uses satellite imagery and weather forecasting technology to automate risk assessment.
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