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Cameroonian Startup Waspito Secures XAF1.5 Billion to Expand Footprint

Cameroonian Startup Waspito Secures XAF1.5 Billion to Expand Footprint
  • Comments   -   Friday, 24 November 2023 14:23

(Business in Cameroon) - Waspito, a Cameroonian startup specializing in telemedicine services, has raised $2.5 million (XAF1.5 billion) from investors, announced Jean Lobe Lobe, founder of Waspito on LinkedIn.

The investors include DP World via Newtown Partners, Saviu Ventures, AAIC Investment, Axian Ventures and CFAO's Health54. "They have invested their money, because they see great potential in Waspito's innovative solution,” says the startup without disclosing whether the investment is equity or debt. 

This financial package brings the amount raised by the startup within a year to $5.2 million (XAF3.2 billion).  In 2022, it raised an initial amount of XAF1.7 billion, which funded the expansion of its Cameroonian user base and entrance into Côte d’Ivoire. 

The additional XAF1.5 billion will enable the company to continue its development and enter more countries on the continent. "We intend to continue expanding in Cameroon and Côte d'Ivoire, and launch our activities in Senegal and Gabon," says one of the startup’s executives.  

This fund-raising represents "a tremendous step forward for us and for the entire technology ecosystem in French-speaking Africa. It's a long-awaited validation by the market and, hopefully, a source of inspiration for other entrepreneurs to keep moving forward. A special thank you to our existing and new investors for their confidence in this project, which aims to improve healthcare accessibility in Africa," commented Waspito founder Jean Lobe Lobe.

The Waspito platform aims to connect Africa's healthcare ecosystem, making healthcare services and information accessible to as many people as possible across the continent. It enables users to have instant video consultations with doctors from their smartphones. In addition, Waspito provides mobile laboratory services via its platform, with a lab technician collecting samples in users' homes. Launched in 2020, the startup claims to have reached 650,000 users in Cameroon and Côte d'Ivoire to date, and facilitated 60,000 consultations.

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