Cote d’Ivoire: Djamo facilitates online purchases with prepaid debit cards

By : Adoni Conrad Quenum

Date : vendredi, 29 juillet 2022 13:17

In Sub-Saharan Africa, the majority of the population is unbanked or underbanked. To fill the gap left by mainstream financial institutions, startups are developing various tech solutions. 

Djamo is a fintech solution developed by Ivorian startup DJAMO Holding Ltd. It issues visa cards to its users, facilitating their online transactions.  

“Bank access is really difficult here [in Côte d’Ivoire]. We saw this difficulty as a huge opportunity. Our aim since inception has been to develop a mobile-first platform that could attract the masses. Our combined experience in the creation of consumer goods has been crucial in the launch of Djamo,” explained co-founder Hassan Bourgi.

By using its Android and iOS apps, Djamo clients can create an account and order a prepaid Visa card, which will be delivered within 48 hours. Users can load their Djamo Visa cards using mobile money or bank transfers. Then, they can easily make online purchases, benefiting from Djamo’s 3D secure technology. They can also easily block or unblock their cards (in the event of losing them or being stolen).  

From 2019 to 2021, the fintech had close to 90,000 users with some 50,000 transactions processed monthly. In February 2021, it was selected for Y Combinator’s accelerator program, becoming the first Ivorian startup to join the program. Its participation in the winter program entitled it to US$125,000 seed funding. Overall, since its creation, Djamo Holding has secured over US$450,000 to support its growth. 

Adoni Conrad Quenum


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