Ivory Coast-based social startup studio Janngo has raised EUR1 million (US$1.18 million) to launch new digital solutions to African SMEs and open offices in Abidjan and Paris.
Janngo builds, grows and invests in pan-African digital champions with proven business models and inclusive social impact, building digital ecosystems in high growth sectors by providing business support and digital platforms to SMEs.
“We want to empower African SMEs, leveraging technology to improve access to market and business performance. We build turnkey solutions to support their growth, access new market opportunities, build capacity, improve their productivity and boost their competitiveness,” said the startup’s founder and chief executive officer (CEO) Fatoumata Bâ.
Janngo has now closed its first funding round, which will be used to enable it to launch and grow new digital platforms targeting African SMEs while creating tech-enabled jobs at scale for women and youth.
Investors in the round include family office Mulliez Family, investment bank Clipperton, and international trading platform Soeximex, with Bâ saying the team was “extremely proud” to have been able to bring these investors onboard.
“They come with a unique blend of expertise as leaders in their respective fields combined with a long term vision and commitment to Africa, a strong mission alignment and values fit, solid operational synergies and evergreen funding, particularly critical for Africa where patient capital is needed to deliver sustainable impact,” she said. “The successful closing of our seed funding is only a first step towards delivering our long term vision.”
Benoît Leclercq, president of Pole Innovation Metiers of Mulliez Family, said his company was excited to be leading Janngo’s first funding round as it embarked on a journey of building world-class digital services for SMEs.
“With this investment, we demonstrate again our vision of enabling passionate entrepreneurs promoting innovation that make sense and creating a larger and long-term impact on the whole ecosystem,” he said.