HUB2 banks $8.5M to become the ‘Stripe for Francophone Africa’

HUB2 aims to be the Stripe of Francophone Africa with $8.5M funding.

: HUB2, a fintech from Ivory Coast, has raised $8.5 million to become the ‘Stripe for Francophone Africa’. With support from TLcom Capital, FMO, Enza Capital, Bpifrance, and Eric Barbier, HUB2 targets fintechs for providing seamless payment solutions. The startup processes €1 billion in transaction volume this year, up from €70 million in 2022, fueled by 15% monthly growth. Plans include expanding payment capabilities and coverage in more African markets.

HUB2, an Ivory Coast fintech company, has secured $8.5 million in Series A funding to expand its reach across Francophone Africa. Led by TLcom Capital and involving investors FMO, Enza Capital, Bpifrance, and Eric Barbier, HUB2 seeks to provide comprehensive and interoperable payment solutions similar to Stripe.

Founded by Ashley Gauzere, HUB2 originally targeted e-commerce merchants but pivoted to serve fintechs exclusively, providing infrastructure for payment collection. Now supporting 55 fintechs, the firm processes up to €1 billion in transactions annually, with growth led by services for companies like Djamo, Julaya, and CinetPay.

Co-CEOs embrace a strategy focused on horizontal service offerings, planning to introduce solutions like cross-border payments and stablecoin-based remittances. By expanding its card payment capabilities through partnerships with platforms like CyberSource, HUB2 aims to cover its target regions fully over the next two years.

fintechFrancophone AfricaPayment Solutions