Start-up Raises $2 Million to Pioneer Cryptocurrency Usage in Francophone Africa – Crowdfunding Bitcoin News
A Cameroonian fintech start-up, Ejara, has raised $2 million to pioneer the utilization of crypto and funding companies in French-speaking African international locations. Coinshares Ventures and Anthemis Group led the funding spherical during which they have been joined by Mercy Corps Ventures, Lateral Capital, Lofty Inc Capital, and Netx Fund.
Using Crypto to Protect Savings in Francophone Africa
According to a report, the start-up, which was based by Cameroonian Nelly Chatue-Diop, needs to “level this playing field for the average French-speaking African so they can invest as little as $9 (CFA5,000).” In addition, Chatue-Diop hopes that by this start-up, the non-elites from this area also can save and keep away from going by the painful expertise of dropping every part as her household did.
“I was really young and we were part of the middle class. Overnight all our savings dwindled and the aftermath was that the government couldn’t even pay salaries. So even at that tender age, I asked myself how we managed to do everything right and still end up in that zone. So it stayed on my mind,” defined Chatue-Diop.
As famous within the report, it was Chatue-Diop’s household experiences that motivated her to find out about blockchain and to ultimately accomplice with Baptiste Andrieux to start out Ejara in Cameroon.
According to the founder, Ejara, which already boasts some 8,000 customers from the six French-speaking African international locations, plans to “diversify into providing other assets, including fractional shares, stocks and commodities.”
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