Janngo Capital, a Pan-African venture capital firm, has concluded its second funding round, securing €73 million—surpassing its initial goal of €60 million.
With backing from partners such as the African Development Bank (AfDB) and European Investment Bank (EIB), this fund seeks to accelerate African entrepreneurship and drive job creation, particularly for youth and women.
Through a comprehensive strategy, Janngo provides African small and medium-sized enterprises (SMEs) with digital resources to enhance their market reach and operational capacity.
The firm, led by founder and executive chair Fatoumata Bâ, emphasises that sustainable economic growth in Africa relies on strong ecosystems that bolster digital platforms and also provide essential training for professional development.
This strategy addresses essential needs of SMEs—key drivers of Africa’s economy—by facilitating access to markets, streamlining supply chains, and encouraging financial stability.
In Africa, SMEs generate 17% of GDP and employ 85% of the workforce, yet they face challenges due to inadequate funding and resources. Janngo’s approach responds directly to these issues by providing capital, training, and scalable digital solutions that empower these businesses.
Janngo Capital also aims to address the underrepresentation of women in Africa’s entrepreneurial sector. Its portfolio includes notable female-led enterprises, such as Nigeria’s B2B e-commerce platform, Sabi, aligning with Janngo’s focus on gender inclusivity and impact investment.
Bâ explains that while Africa has the world’s highest rate of female entrepreneurship, only a small percentage of global venture capital flows to female founders. Investing in diverse founders and ventures beyond fintech would enable Janngo to change this.
In addition to gender diversity, the firm’s investments are strategically distributed across various sectors, from healthcare and financial services to agritech and logistics. The team, with expertise spanning technology, marketing, and environmental, social, and governance (ESG) practices, actively collaborates with portfolio companies.
Janngo’s “hands-on” approach is central to its operations, supporting businesses in reaching market fit, expanding into new regions, and building solid product foundations.
With a presence in Abidjan, Mauritius, Tunis, and Paris, Janngo aims to back 25-40 companies over the next five years, extending the fund’s reach beyond its original 25-company target. In providing investment sizes between €150,000 and €5 million, Janngo ensures startups from Seed to Series B stages can access the necessary support to scale.
The success of Tunisian expense management platform Expensya and Nigerian B2B e-commerce platform Sabi exemplifies Janngo’s strategy, with the former securing a ~$120 million acquisition and the latter generating approximately $1 billion in annual gross merchandise volume.
Janngo’s proactive approach, evident in these high-profile exits, is a signal to investors of Africa’s expanding investment opportunities and the tangible returns that impactful venture capital can yield.
