Cameroonian Fintech Ejara Raises $8 Million in Series A Investment Round

Just over 12 months after elevating $2 million, the Cameroonian fintech whose app permits customers to purchase and retailer crypto belongings not too long ago mentioned it had acquired $8 million in its Series A funding spherical. According to Ruth Foxe Blader, companion at Anthemis, Ejara goals to develop into the one-stop platform the place “a suite of financial products will be accessible at their fingertips, without the need for any crypto knowledge.”

Owning the Keys to Your Crypto

Ejara, the Cameroonian fintech whose app permits customers to purchase and retailer cryptocurrency in decentralized wallets, not too long ago mentioned it had raised $8 million by way of a collection A funding. The fintech’s newest fundraising collection was collectively led by the United Kingdom-based enterprise capital (VC) agency Anthemis and Dragonfly Capital.

Participating within the newest spherical had been Mercy Corps Ventures, Coinshares Ventures, and Lateral Capital which similar to Anthemis had equally joined the fintech startup’s earlier spherical. According to a Techcrunch report, new traders embrace Circle Ventures, Moonstake, Emurgo, Hashkey Group, and BPI France, whereas Blockworks co-founder Jason Yanowitz is without doubt one of the angel traders that participated within the spherical.

The fintech’s newest capital increase comes simply over 12 months after Ejara mentioned it had secured $2 million by way of a seed spherical. Meanwhile, the most recent capital brings the entire funds that the fintech has raised in underneath 18 months to $10 million. Commenting on the corporate’s newest capital increase, Nelly Chatue-Diop, the CEO at Ejara, is quoted as saying:

When everybody was taking the opposite route and constructing centralized exchanges, we at all times thought that, if you wish to personal crypto, that you must personal your keys. And that’s just about what’s saved us in turbulent occasions.

From the round 8,000 purchasers it had in October 2021, Ejara now reportedly boasts over 70,000 customers that hail from 9 totally different French-speaking African international locations.

Meanwhile, Ruth Foxe Blader, companion at Anthemis, famous that Ejara had no intentions of “limiting itself to being a crypto app.” Instead, the fintech is searching for to develop into a one-stop platform the place “a suite of financial products will be accessible at [users’] fingertips, without the need for any crypto knowledge.”

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