The new funding aims to address the significant financial constraints women entrepreneurs face in Senegal and Côte d’Ivoire, focusing on supporting financial inclusion and economic development.

Established in 2019 by the Women’s Investment Club Senegal, Wic Capital dedicates its operations to supporting women-owned businesses navigating the challenging economic landscapes of Senegal and Côte d’Ivoire.

Its recent announcement revealed a strategic move to empower women entrepreneurs further through a substantial line of credit from FSD Africa.

The $1 million loan will be utilized by Wic Capital to provide innovative financial products specifically tailored to the unique needs of its target audience.

Beyond financial assistance, the fund aims to fortify women entrepreneurs by offering valuable mentoring and training sessions, acknowledging the multifaceted challenges faced by businesses led by women in the region.

Anne-Marie Chidzero, the Investment Director at FSD Africa, highlighted the significance of this loan in supporting Wic Capital’s expansion strategy in Senegal and Côte d’Ivoire.

She emphasized that the loan will serve as a catalyst, enabling Wic Capital to acquire additional funds to bolster its mission in the two West African countries.

The funding round was led by Y Combinator, with participation from Alan Rutledge, Heirloom VC, Tristan Walker, Entrée Capital, Voltron Capital, Unpopular VC, Kima Ventures, Mono CEO Abdul Hassan, and Dropbox co-founder Arash Ferdowsi.

Founded in 2022, Bujeti aims to help African businesses, from small and medium-sized enterprises (SMBs) to large corporations and startups, manage their finances more efficiently.

Bujeti’s platform provides businesses with a simple and fully integrated solution for managing expenses and issuing corporate cards to employees.

The platform targets businesses in various industries, including logistics, healthcare, agriculture, and construction.

It streamlines spending processes by managing the issuance of corporate cards to employees and contractors, allowing businesses to set spending limits, restrictions, and approval flows for various stakeholders.

Adding to its offerings, Bujeti is developing a multi-currency feature that will enable it to manage finances for businesses operating in different countries.

This expansion, coupled with the recent investment, positions Bujeti to become a leading provider of corporate card and expense management solutions in Africa.