HUB2

About HUB2

HUB2 is a fintech company tackling payment fragmentation in Francophone Africa by providing a unified payment infrastructure. Founded in 2018 by Ashley Gauzere, Jean-Rémi Kouchakji, and Rémi Voluer, the company launched commercially in 2019 after nine months of technology development. Gauzere, a former telecom engineer with extensive experience at Orange Africa, identified the critical need for an interoperable payment solution to unlock the region's digital economy. His background in telecommunications directly informs the company's focus on building robust and reliable infrastructure. In 2023, Jean-Rémi Kouchakji, an entrepreneur with previous experience in the fintech sector, joined as co-CEO to strengthen the leadership team.

The company operates as a payment orchestrator, offering a single API for businesses to process a variety of payment methods, including mobile money, bank transfers, card payments, and cryptocurrency. This model addresses the significant challenge of a fragmented market where over 150 independent mobile money operators create complexities for businesses aiming to operate across multiple countries. HUB2 targets large and enterprise-level clients, primarily other financial institutions, payment service providers, cross-border payment companies, digital banks, and fintechs with specific quality of service needs. Its client roster includes prominent names like Jumia, Djamo, OnAfriq, and CinetPay. Revenue is generated through this B2B model, with fintech clients accounting for 98% of its transaction volumes.

The core of HUB2's offering is a plug-and-play platform that eliminates the need for clients to build and maintain multiple integrations, allowing them to focus on their core products. The platform is noted for its high success rates, approaching 100%, a significant improvement over the 40-50% rates often seen with local aggregators. This reliability is a key selling point, as is its extensive reach across nine countries in West and Central Africa. Initially focused on e-commerce merchants, the company strategically pivoted to better serve large corporations and other fintechs, which has been a catalyst for its substantial growth. The company has successfully raised $11.7 million over four funding rounds, including a significant $8.5 million Series A in late 2024, to fuel its expansion and technological development.