In the rapidly evolving landscape of African fintech, Djamo stands out as a digital banking startup with a clear focus: serving the underbanked in Francophone West Africa. While many competitors target the continent’s largest markets—Nigeria, Egypt, and South Africa—Djamo has found its footing in the Ivory Coast and, more recently, Senegal. With over one million customers now using its services across these two countries, the Y Combinator-backed company is proving that smaller, often overlooked markets can yield significant opportunities.

Djamo recently secured $17 million in an equity funding round, marking the largest ever for an Ivorian startup. This surpasses its previous $14 million Series A in 2022 and signals strong investor confidence in its mission to democratize financial access. Led by co-founder and CEO Hassan Bourgi and chief product and technical officer Régis Bamba, the company launched in 2020 to address a persistent challenge in French-speaking African countries: limited access to formal banking. While traditional banks in the region tend to serve wealthier clients, the majority of the population relies on mobile money—using phone numbers for basic transactions—as a more affordable alternative.

The Mobile Money Ceiling

Mobile money has been a game-changer for financial inclusion in Africa. According to the World Bank, 28% of adults in Sub-Saharan Africa had a mobile money account as of 2022, with the region accounting for over half of the global total. This growth has brought millions into the financial ecosystem, enabling cash deposits, withdrawals, peer-to-peer transfers, and bill payments. However, mobile money’s simplicity is also its limitation. It lacks the advanced tools—like credit, investments, or long-term savings—that many users need as their financial needs evolve.

Djamo is stepping into this gap, positioning itself as a hybrid between the accessibility of mobile money and the sophistication of traditional banking. Its approach mirrors strategies used by heavyweights like Softbank-backed OPay and Transsion-owned PalmPay, which have scaled to tens of millions of users in Nigeria. Djamo’s target audience is a growing cohort of younger customers who have outgrown mobile money but remain wary of traditional banks due to high fees, outdated services, or inaccessibility.

“These users are evolving,” Bourgi said in an interview. “But they don’t want to go where their parents went, into institutions with predatory pricing and aren’t adapted to the new generation of customers. And this is what we are building, trying to become the go-to bank for this huge cohort of customers that is evolving now to more complex, wealth-building financing opportunities.”

A Growing Product Suite and Regional Ambitions

The $17 million raise will fuel Djamo’s plans to expand its offerings for both retail customers and the thousands of small businesses it has onboarded over the past two years. While Bourgi declined to disclose the company’s new valuation, he confirmed it has doubled since the 2022 Series A, reflecting its rapid growth and market potential. Djamo currently serves over one million users, a testament to its appeal in a region where financial inclusion remains a pressing challenge.

In the Ivory Coast and Senegal, where few adults hold bank accounts, Djamo’s mobile-first platform provides an affordable entry point to services like savings accounts, debit cards, and, increasingly, credit options. By catering to small businesses as well, the startup is tapping into the backbone of these economies, offering tools to help entrepreneurs manage cash flow and grow.

A Niche With Big Potential

Djamo’s focus on Francophone West Africa sets it apart in a crowded fintech space. While Nigeria’s market size and South Africa’s established infrastructure draw significant attention, the French-speaking countries of West Africa represent an underserved yet promising frontier. With a combined population of over 60 million across the Ivory Coast and Senegal alone, the region offers ample room for growth.

Investors, including Y Combinator and others in the latest round, see Djamo as a bet on this untapped potential. The startup’s success also highlights a broader trend in African fintech: tailoring solutions to local needs rather than adopting a one-size-fits-all approach. For Djamo, that means building a bank that resonates with a new generation—one that’s ready to move beyond mobile money but demands affordability, convenience, and relevance.

As Djamo scales its operations and product suite, it’s not just raising capital—it’s raising the bar for what digital banking can achieve in Francophone Africa. For the million-plus customers it already serves, and the millions more it aims to reach, Djamo is more than a fintech startup; it’s a bridge to a more inclusive financial future.

The Trump administration’s recent prohibition on Diversity, Equity, and Inclusion programs has triggered far-reaching consequences, including the removal of crucial historical content from the Arlington National Cemetery website. Digital records documenting the graves and stories of notable Black, Hispanic, and female veterans have disappeared, prompting concerns about historical erasure and proper recognition of diverse military contributions.

The sweeping DEI ban has been implemented across numerous federal agencies following President Trump’s executive order. Defense Secretary Pete Hegseth has emerged as a particularly vocal proponent, publicly declaring “DEI is dead” while leading efforts to eliminate diversity-focused content throughout the Department of Defense.

Arlington National Cemetery, America’s most hallowed military burial ground, has responded to these directives by eliminating dozens of webpages previously dedicated to veterans from underrepresented groups. Educational materials and historical accounts highlighting diverse military service have vanished from the site. Previously accessible sections about African American History, Hispanic American History, and Women’s History no longer appear in the “Notable Graves” navigation menu, significantly complicating visitor access to this information. Some content has been relocated to generic categories without racial or gender identifiers, further obscuring these veterans’ unique contributions and sacrifices.

The content removal has sparked immediate backlash from various quarters. Historian Kevin M. Levin, who initially documented these changes, emphasized the loss of valuable educational resources meticulously developed by Arlington staff and widely used by educators nationwide. The progressive veterans advocacy organization VoteVets has condemned the Trump administration for “whitewashing history” and failing to properly honor all service members. Democratic Representative Jamie Raskin of Maryland characterized the decision as deeply disrespectful to the veterans and their families.

Cemetery officials have indicated that work is ongoing to restore the removed materials while adhering to the administration’s new policies, though no specific timeline has been provided. The Army has reiterated its commitment to transparently sharing stories of military service and sacrifice, but the current state of the website reveals significant gaps in the representation of diverse veterans.

As the country continues navigating complex questions about diversity and inclusion, the removal of these historical resources from Arlington’s website raises profound concerns about preserving American military history in its full, diverse reality, and properly honoring all those who have served and sacrificed for the nation.​​​​​​​​​​​​​​​​

In the heart of Chicago, a vision born of compassion has blossomed into a beacon of hope for countless lives across Africa. Help the Needy Inc. celebrates a remarkable milestone this year – a decade of unwavering commitment to uplifting communities in need. From its humble beginnings in 2015 to its impactful presence today, this organization has demonstrated that dedicated hearts can indeed change the world.

A Legacy of Compassion

Founded by Stephanie Bailo on November 25, 2015, Help the Needy Inc. emerged from a profound desire to give back to communities in Côte d’Ivoire and beyond. Born in Ivory Coast herself, Bailo carried the struggles of her homeland in her heart as she built a new life in Chicago. Her business education from Loyola University of Chicago, combined with extensive experience working with nonprofits like Misericordia and Habilitative Systems Inc., provided the foundation for what would become a transformative organization.

“When I left Côte d’Ivoire as a teenager, I made a promise to myself that I would one day find a way to help the communities I grew up in,” shares Bailo, whose pursuit of a nursing degree further reflects her dedication to caring for others. “Help the Needy Inc. is the fulfillment of that promise – a bridge between the opportunities I found in America and the needs that persist in developing African nations.”

Ten Years of Transformation

What began as targeted assistance to orphanages in Ivory Coast has expanded into comprehensive programs addressing healthcare, education, and economic empowerment across multiple African communities. Over the past decade, Help the Needy Inc. has:

• Provided essential medical supplies to over 20 healthcare facilities
• Sponsored education for hundreds of out-of-school girls
• Established sustainable support systems for widows and homeless individuals
• Created rehabilitation programs for vulnerable populations
• Launched the “Women Rising” initiative that has empowered over 300 women entrepreneurs

The organization’s tax-exempt status has enabled efficient channeling of resources directly to those in need, while partnerships with local leaders ensure culturally appropriate and sustainable solutions.

Women Rising: A Flagship for the Future

As Help the Needy Inc. looks toward its next decade, the Women Rising program stands as a testament to the organization’s evolving approach to creating lasting change. This comprehensive initiative tackles gender inequality through education, economic opportunity, and advocacy.

“We’ve learned that when you empower a woman, you empower a family, and ultimately a community,” explains Bailo. “By 2026, we aim to support 500 women in achieving economic stability and becoming community leaders.”

The program’s holistic approach includes STEM education for girls, microfinancing for women entrepreneurs, and workshops on health and legal rights. By engaging men and boys as allies and collaborating with government agencies, Help the Needy Inc. is addressing both immediate needs and systemic barriers.

The Path Forward

As Help the Needy Inc. celebrates its 10th anniversary, Bailo and her team are not just reflecting on past accomplishments but setting ambitious goals for the future.

“Our vision remains the same – a world where every individual has the opportunity to thrive regardless of their circumstances,” says Bailo. “But our methods continue to evolve as we learn and grow.”

The organization is expanding its digital presence to broaden its donor base and implementing more rigorous impact assessment tools. Plans for the coming years include expanding healthcare initiatives, establishing more permanent educational facilities, and scaling successful economic empowerment models.

How You Can Join the Journey

This milestone anniversary presents the perfect opportunity for new supporters to join Help the Needy Inc.’s mission. Whether through financial contributions, volunteering expertise, or simply spreading awareness, everyone has something to offer.

To celebrate a decade of impact, Help the Needy Inc. is launching its “Decade of Hope” campaign, featuring:

• A commemorative gala in Chicago on November 25, 2025
• A matching gift challenge from key donors
• Virtual tours of projects in Ivory Coast
• Opportunities to sponsor specific initiatives

“What makes our work possible is the community of supporters who share our belief in human dignity and potential,” says Bailo. “As we mark ten years, we invite everyone to become part of our story for the next decade and beyond.”

For more information on how to support Help the Needy Inc., visit their website or contact their Chicago headquarters directly.

Help the Needy Inc. is a 501(c)(3) nonprofit organization based in Chicago, Illinois, dedicated to uplifting communities in Ivory Coast and other developing African nations through healthcare, education, and empowerment programs.