Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

Startups

Orange FOMO Shows Famoco the Dough

Article Image
Orange is among the lengthy list of investors that poured $11 million of funding into digitization and mobility startup Famoco.

Orange Digital Ventures, the startup incubating investment arm of the telco, joined BNP Paribas Développement and five other investors in prioritizing Famoco for significant investment -- this is the third round of funding for Famoco, totalling more than $18 million.

Famoco specializes in the digital transformation of aid vouchers in order to ensure civilians gain the aid they need. It also works on boosting enterprise and fleet mobility using Android devices.

According to Famoco, the latest round of funding will help the startup meet growing international demand for its solutions. Principally, the company focuses on transactional solutions in the fields of cashless payment, transportation, smart city as well as the digital transformation in mobility faced by large corporations.

Earlier this month, Connecting Africa highlighted Famoco as one of Africa's burgeoning startups with genuinely exciting potential. Famoco specializes in making traditional transactions more secure using digital. We previously described Famoco like so:

Famoco, which is digitizing food vouchers from humanitarian charities. This $10 billion charitable market segment is prone to fraud, theft and loss of a traditionally paper-based transaction process, leaving the merchants who supply food parcels and citizens purchasing them at risk of losing out.

Instead, Famoco's FX100+ devices transform this vulnerable paper system into a contactless digital platform, where transactions are traceable and can only be used by the intended recipient of aid. This, according to the paper, sees the contactless cards store entitlement details and biometric data, helping aid agencies monitor real-time usage. In addition, the card reading kit sent to merchants doubles up as a solar power-based charging station, adding increased business value to the retailer.

— Tim Skinner, Editor, Connecting Africa

Innovation hub

Story

Orange Ventures, Digital Africa promise more funding for startups

Orange Ventures and Digital Africa are teaming up to invest more in tech startups in Africa and the Middle East through Digital Africa's Fuzé program and the Orange Digital Center network.

Story

Hot startup of the month: Rwanda's Ampersand

Connecting Africa's hot startup this month is Rwanda's Ampersand, which designs, builds, and manufactures electric motorcycles and battery packs for motorcycle taxis.

More Innovation hub

Latest video

More videos

Partner perspectives

All Partner Perspectives

Sponsored video

More videos

Follow us on X

Industry announcements

More Industry announcements

Upcoming events

Africa Tech Festival 2024
November 11-14, 2024
Cape Town, South Africa
More Upcoming events

Africa Tech Perspectives

Story

Uber's Marjorie Saint-Lot on inclusion and sustainability in Africa

Uber's Country Manager for Ghana and Cote d'Ivoire, Marjorie Saint-Lot, shares how the ride-hailing company is approaching public-private partnerships, environmentally friendly initiatives and gender inclusion in Africa.

Story

The 100 most influential African leaders in 2023

A new report from Africa Tech Festival and Connecting Africa puts a spotlight on the top 100 African leaders in the telecoms and technology sector in 2023.

Story

Deep dive into East Africa's tech startup ecosystem

New survey reveals a lack of access to investors, reliance on international VCs and global recession trends as the biggest barriers for East African tech startups to access funds.

More Africa Tech perspectives

Guest Perspectives

Story

Omdia View: April 2024

By Omdia Analysts

April 2024's telecoms highlights in the Middle East and Africa included a license for Starlink in Ghana, new mobile termination rates in Ethiopia, and 6G trials in Bahrain – that and more in the latest Omdia View.

Story

Leveraging agritech to build resilience against climate change

By Francis Hook

ICT analyst Francis Hook discusses agritech in Africa and how the agricultural sector is using technology to build resilience against the negative effects of climate change and to ensure food security.

More Guest Perspectives

Like us on Facebook

Newsletter Sign Up


Sign Up
Tag id test-002