HUB2 Raises $8.5M to Advance Digital Payment Systems in Africa

Ashley Gauzere, HUB2 CEO & Founder

HUB2, a fintech startup founded in 2019 by ex-telecom engineer Ashley Gauzere, has raised $8.5 million in a Series A funding round. Led by TLcom Capital with participation from FMO, Enza Capital, and Bpifrance, the funds will fuel HUB2's expansion, tech innovation, and efforts to streamline payment systems across Francophone Africa.

The startup addresses the challenges of fragmented mobile money ecosystems, which hinder businesses from scaling regionally. Drawing inspiration from Stripe, HUB2 leverages APIs to unify payment systems, allowing seamless payment collection and transaction management.

Initially focused on independent e-commerce merchants, HUB2 pivoted to support large corporates and fintechs transitioning to digital payments. This shift has been pivotal, enabling partnerships with major players like Djamo. HUB2 now powers over 55 fintechs, including Julaya, NALA, and CinetPay, and handles diverse payment methods such as mobile money, bank transfers, cards, and cryptocurrency. Fintech clients account for 98% of its transaction volumes, underscoring the startup's rapid growth and strategic success.

Source: Innovation Village