HUB2, a fintech startup specialising in payment solutions for Francophone Africa, has raised $8.4 million (EUR 8 million) in a Series A funding round to accelerate its regional expansion. The funding aims to bolster HUB2’s seamless platform, which integrates national and cross-border payment systems, offering businesses access to mobile money, bank transfers, card payments, and cryptocurrency through a single API.
Established in 2019 by Ashley Gaüzère, HUB2 was founded to address a critical need for reliable and interoperable payment infrastructure across Africa. In 2023, Jean-Rémi Kouchakji joined as co-CEO to strengthen its leadership. The company has partnered with major mobile money operators, including Wave, MTN, Orange, Moov, Free, T-Money, and Celtiis, ensuring a broad network across the region.
“After two decades in telecom, I saw the need for high-quality, interoperable payment solutions across Africa. HUB2 was built to bridge this gap, creating infrastructure that the industry can rely on,” said Gaüzère.
HUB2’s platform has attracted notable fintechs like Djamo, Onafriq, and Daba Finance, making it a trusted solution in the region.
Backed by International Investors
The Series A round was spearheaded by TLcom Capital, with contributions from leading investors, including FMO, Enza Capital, BPI France, AXIAN, DCG, African Fintech Collective, Eric Barbier, and ENL Corporate Ventures. Gaüzère highlighted that the diverse mix of international investors reflects HUB2’s ambition to scale operations across the continent.
“With this funding, HUB2 is well-positioned to strengthen our Francophone footprint and expand strategically across Africa,” he said.
Currently active in six countries—Ivory Coast, Senegal, Burkina Faso, Benin, Togo, and Cameroon—HUB2 plans to extend its services across Francophone Africa, aiming to reach countries as far as Madagascar within the next two years.
Eloho Omame, partner at TLcom Capital, expressed confidence in HUB2’s trajectory: “HUB2’s achievements in Francophone Africa, coupled with TLcom’s experience in Anglophone markets, create a robust partnership. We are proud to support Ashley and Jean-Rémi in making digital payments more accessible across the continent.”
