Issue #51: YMO Raises €3M Seed Round, While KoolSkools Secures $960k Investment

Last week, we recorded four funding rounds, with Francophone Africa taking the spotlight. Startups from Morocco, Guinea, Senegal, and Nigeria raised funds.


Fleeti, a Senegalese fleet management startup, has received seed funding of $3.1 million (€3 million) from Newfund, Janngo Capital, PG Dev, and Proparco.

Founded in 2020 by Iban Olçomendy and Gabriel Delerue, Fleeti offers a SaaS platform that combines data analysis and artificial intelligence to allow users to geolocate automobiles, assess fuel usage, and verify cold chain monitoring, among other functions. This enables their customers to reduce fuel consumption, increase fleet productivity, and improve operational safety.

The funds raised will allow the company to continue its international expansion, particularly in Africa, as well as to speed up the marketing of its new products and services.

YMO, a Guinean fintech startup, has raised $3.1 million in a seed round led by Breega and INCO Ventures. The company is the first in Guinea to receive such a large sum from investors.

Founded in 2019 by Abdoulaye Barry, YMO began by providing an instant mobile payment service between France and Guinea. It has since received approval as an electronic money issuer from the Central Bank of the Republic of Guinea and successfully launched its local payment service.

This new round of funding will allow the startup to accelerate the rollout of its mobile payment services across West Africa.


KoolSkools, a Morocco-based edtech startup, has secured a $960,000 (MAD 10 million) investment from Azur Innovation Fund.

Founded in 2020 by Mariam Zrii and Nouredine Amrani, KoolSkools is a collaborative educational platform that addresses teaching and learning issues through the digitization of various processes, such as interactive courses and exercises, content bank, monitoring of skills, and remediation process. The educational platform also helps to digitalize school administration.

This fundraising will allow KoolSkools to strengthen its national presence and begin its international expansion by acquiring human, technical, and marketing resources.

Releaf, a Nigerian agtech startup, has raised $250,000 in additional funding from Plesion Capital. The startup recently raised a $3.3 million pre-Series A round led by Samurai Incubate Africa in January.

Founded in 2017 by Ikenna Nzewi and Uzoma Ayogu, Releaf develops proprietary hardware and software solutions to improve the efficiency, profitability, and climate resilience of food processing in Africa.

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