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Wave raises $91.6m for its operations in Senegal and Ivory Coast
At Wave, our remote teams meet 3-6 times a year for the perfect mix of work and play! Most recently, our employees congregated in Abidjan, Dakar, and Washington DC to shadow our operations, meet our users, plan for the coming cycle, and have fun. These pictures are proof that whenever we get together, wherever it is and whatever the size- it's all positive vibes, adventure and living our fullest lives now!
This summer Wave raised $200 million in a Series A round of funding. The investment is the largest-ever Series A round for the region, and it values Wave at $1.7 billion. This fundraise made us officially francophone Africa's first ever unicorn! More importantly, over half of the adults in Senegal now are using our radically affordable mobile money service. . . .and we are just getting started. Four big-name backers jointly led the round — Sequoia Heritage, an endowment-style fund and a separate entity that operates independently under the Sequoia brand; Founders Fund; payments giant Stripe; and Ribbit Capital. Others in the round include existing investors Partech Africa and Sam Altman, the former CEO of Y Combinator and current CEO of OpenAI.
Retreats are when the Wave team comes together to connect and align our priorities for the coming cycle. In January 2020 we gathered in Dakar, and in November 2019 we met up in New York City, but with Covid-19 restricting travel, we?ve shifted to remote retreats for the time being. Our third remote retreat took place two weeks ago. Our team members virtually brought us into their lives and hosted sessions sharing their interests, from making kombucha, to local hikes, to pixel-quilting, to how to wear a hijab (modeled by Mariama below)! Though we miss seeing each other?s faces, we?re working to stay connected until we can meet again.