GOMYCODE, a Tunisian IT startup, announced Thursday that it has raised $8 million in a round of financing.
The round was jointly led by AfricInvest, through its innovation fund Cathay AfricInvest (CAIF), and Proparco, a French-based development finance institution, with participation from existing investor Wamda Capital.
This new injection of funds brings the total investment raised by the startup to $8.85 million, after raising a seed of $850,000 in October 2020.
The edtech startup was founded in 2017 by 24-year-old Yahya Bouhlel (CEO) to initially solve a shortage of skilled engineers in Tunisia – a problem his older brother Amine Bouhlel was facing at the time, having just returned to Tunisia from France to open a subsidiary of a French tech startup, and needing to hire a local developer.
According to Yahya Bouhlel, this latest round of funding will allow the company to expand further into key countries like South Africa, Kenya, Ghana, and Saudi Arabia.
GoMyCode trains talent in a dynamic blended environment on digital skills and connects them with technology opportunities around the world.
Yahya, commenting on the model on which the startup operates, said, “Traditional local training centers offer outdated content and methodology, and international online players struggle to enroll African students due to their lack of understanding of local markets and unaffordable prices.
“We have a blended education model, we teach in twelve local languages, and we are positioning ourselves as a regional leader.”