HUB2 Raises $8.5 Million in Series A Funding to Expand in Francophone Africa
HUB2, a West African company, has secured $8.5 million in a Series A funding round led by TLcom Capital to expand its payment infrastructure across Francophone Africa. The region’s fragmented financial systems and low banking penetration have posed significant challenges for businesses and consumers.
To address these issues, HUB2 offers a unified API that integrates bank transfers, card payments, mobile money, and cryptocurrency, aiming to create a seamless payment ecosystem.
Founded in 2019, HUB2 initially targeted independent e-commerce but later pivoted to the fintech sector. This shift allowed the company to partner with notable fintech players like Julaya, Onafriq, NALA, and CinetPay, which now rely on its infrastructure.
Currently operating in Senegal, Benin, Cameroon, Burkina Faso, Ivory Coast, and Togo, HUB2 plans to achieve full regional coverage within the next two years. Part of its strategy includes increasing the adoption of bank cards and cryptocurrency payments in the region.
HUB2’s future goals include simplifying regional payment systems with cross-border solutions, enhancing API capabilities through deeper integrations, and promoting accessibility with stablecoin-powered remittance services.