A France-based investor has signed a deal to back an early-stage deal investment into an Africa-focused financial services technology company.
Breega has backed a $3.1 million seed investment into YMO, investing alongside INCO Ventures.
“Breega, a pan-European venture capital fund dedicated to high-impact start-ups, is proud to support YMO in the deployment of its services and supports this promising young African start-up,’’ Ben Marrel, co-founder and chief executive officer at Breega. ‘’We are convinced of the essential role played by Fintechs, in particular to create added value and to respond to the weaknesses of banking and the financial system in Africa.”
Carole Cazassus, director of investments at INCO Ventures represented the investor.
Headquartered in Paris, YMO is a software company which offers a money transfer platform for consumers across West Africa.
Data Card
| Deal Name | YMO (2023) |
| PE Investors in Deal | Breega, INCO Ventures |
| Other Investors | n/d |
| Deal Month | March |
| Deal Year | 2023 |
| Deal Data ID | Available shortly |
| Portfolio Company Name | YMO |
| Primary Sector | Technology |
| Sub-Sectors | Software |
| Country Headquarters | France |
| Debt Investors | n/d |
| Investing Fund(s) | Bespoke request |
| Individual Investors | n/d |
| Investor Amounts | Breega (n/d), INCO Ventures (n/d) |
| Region | Europe |
| Deal Size (Base Currency) | $3.1m |
| Deal Size (cUSD) | $3.1m |
| Deal Class | Small-cap |
| Deal Stage | Early-stage |
| Deal Structure | seed |
| Aggregate Stake Size | n/d |
| Seller Type(s) | n/d |
| Sellers & Stakes | n/d |
| Use of Funds | Bespoke request |
| Expansion Plans | Bespoke request |
| Key People in Deal | Ben Marrel, CEO (Breega), Carole Cazassus, Investment Director, (INCO Ventures) |
| Deal Advisors | n/d |
| Previous PE Deals | bespoke request |
| Deal Advisory Details | n/d |
Source: Deal Book Africa
