Senegalese Samba Lo, founder of SociumJob, is raising €1 million to accelerate its rollout in French-speaking Africa.

Launched only in September 2021, SociumJob, a job board that connects African companies with local talent and diaspora members, announces a successful first round of funding. This is confirmed by the company’s founder Samba Lo, who is in his thirties and studied applied mathematics at the Ecole Polytechnique in Paris.

The young entrepreneur began his professional career in the world of consulting and finance at Deloitte, Goldman Sachs, Rothschild, Axa, as well as FinTech, specializing in blockchain issues. Based on his experience, Samba Lo decided to specialize in the technology sector, first as a product lead for Skeat, a startup specializing in digitizing ordering processes for establishments (bars, restaurants, etc.), and then founding SociumJob.

The one million euro fundraiser was held between February and May 2022 with the help of venture capital funds such as Breega, Teranga Capital, Kima Ventures, Techmind and Evolem Start. The startup also received support from business angels such as Julien Gut (Managing Partner of Beenok) and Dmitry Farber (co-founder of Tiller).

All these participants and the funds thus raised must allow SociumJob. accelerate its deployment in francophone sub-Saharan Africa by strengthening its capacity, especially human resources.

SocialJob. deploys a platform that connects talent (based in Africa and from the diaspora) and organizations operating on the continent through a combination of content and technology. In particular, it allows African companies to promote their activities and their corporate culture to applicants and thus save valuable time on application management.

Currently present in Senegal and Ivory Coast, the startup targets companies looking for qualified employees and guarantees them cost, time and effort savings to maximize their recruitment results across the continent.

“Professional employment is a real development problem for the African continent. On the one hand, organizations deplore the lack of talent and the difficulty in recruiting the right profiles. On the other hand, graduates and workers of all ages often struggle to find jobs that match their qualifications. To solve this dual problem, we created SociumJob. said Samba Lo, CEO and founder of SociumJob., before adding: “Our goal is to enable African companies to grow socially and economically through innovation in this strategic sector, which until recently has not been digitized.” »

The labor market in francophone Africa suffers from a lack of communication between job seekers and companies. Indeed, the main tools available, such as online platforms, recruitment agencies and online advertising, do not provide sufficient market penetration.

Fundraising for SociumJob. was conducted with several investors targeting exclusively small local businesses, a segment little covered by traditional equity investors:

“Teranga Capital, a leading investment company in Senegal and the Gambia, is proud to support SociumJob. at this new stage. We are convinced of the potential of digital technologies as a solution to reduce labor market barriers and promote talent development on the African continent. Through our I&P Acceleration Technologies programme, a program 100% dedicated to African digital start-ups, we will support the company in strengthening its market position and the skills of its team. “, emphasizes Olivier Fourdel, co-founder and managing director of Teranga Capital.

“We are proud of the success of our fundraising, which reflects the relevance of our analysis as well as the robustness of the solution already deployed with the supporting companies, and we thank all of our investors and clients for their trust in our project. Together we will contribute to the revolution in the labor market in Africa,” concludes Samba Lo.

With prestigious clients such as Orange, Mazars or Ernst & Yong (EY), SociumJob. intends to double its current staff of about fifteen in the coming months, in particular through the recruitment of managers, sales representatives, experts and operations staff.

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