A groundbreaking fintech startup from Ivory Coast has recently secured funding with the ambitious goal of becoming the “Stripe for Francophone Africa.” Known as HUB2, the company has already established partnerships with 55 neobanks, payment companies, remittance providers, and cryptocurrency platforms. With a fresh injection of $8.5 million in Series A funding led by Pan-African investor TLcom Capital, HUB2 is poised to expand its offerings and enhance its technological capabilities.
Founded in 2019 by Ashley Gauzere, a former telecom engineer with experience at Orange Africa, HUB2 aims to address the unique challenges faced by the e-commerce industry in Francophone Africa. In a region where mobile banking is prevalent and banking systems operate in silos, HUB2 seeks to streamline payment processes and bridge the gap between financial institutions. Inspired by the success of Stripe in the U.S., Gauzere saw an opportunity to create a platform that would unify payment methods and simplify transactions for businesses across the region.
Initially targeting independent e-commerce merchants, HUB2 later shifted its focus to large corporations transitioning to digital payments. This strategic pivot led the company to serve the insurance sector, eventually attracting attention from prominent fintechs like Djamo. Today, HUB2 serves as the backbone for 55 fintechs in French-speaking Africa, facilitating seamless payment infrastructure for these companies and driving significant growth in transaction volume.
With plans to process €1 billion in transaction volume this year, HUB2 is on track for substantial expansion. Co-CEO Jean-Rémi Kouchakji emphasizes the company’s commitment to offering comprehensive payment solutions, including mobile money, card payments, bank transfers, and cryptocurrency. As HUB2 continues to scale, it aims to enhance its cross-border payment capabilities, introduce stablecoin-based remittance services, and expand card payment integration across more African markets.
With a dedicated team spread across offices in France, Ivory Coast, and Mauritius, HUB2 is poised to make a significant impact on the digital payments landscape in Francophone Africa. Partnering with TLcom Capital, the company is well-positioned to drive accessibility and innovation in the region’s financial ecosystem. As HUB2’s reach expands across the continent, it is set to become a driving force in making digital payments more accessible and seamless for businesses and consumers alike.
