Jump to content

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


Recommended Posts

shutterstock_2223309441-768x432.jpg

Just over 12 months after raising $2 million, the Cameroonian fintech whose app allows users to buy and store crypto assets recently said it had received $8 million in its Series A investment round. According to Ruth Foxe Blader, partner at Anthemis, Ejara aims to become the one-stop platform where “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 enables users to buy and store cryptocurrency in decentralized wallets, recently said it had raised $8 million via a series A investment. The fintech’s latest fundraising series was jointly led by the United Kingdom-based venture capital (VC) firm Anthemis and Dragonfly Capital.

Participating in the latest round were Mercy Corps Ventures, Coinshares Ventures, and Lateral Capital which just like Anthemis had similarly joined the fintech startup’s previous round. According to a Techcrunch report, new investors include Circle Ventures, Moonstake, Emurgo, Hashkey Group, and BPI France, while Blockworks co-founder Jason Yanowitz is one of the angel investors that participated in the round.

The fintech’s latest capital raise comes just over 12 months after Ejara said it had secured $2 million via a seed round. Meanwhile, the latest capital brings the total funds that the fintech has raised in under 18 months to $10 million. Commenting on the company’s latest capital raise, Nelly Chatue-Diop, the CEO at Ejara, is quoted as saying:

When everyone was taking the other route and building centralized exchanges, we always thought that, if you want to own crypto, you need to own your keys. And that’s pretty much what’s saved us in turbulent times.

From the around 8,000 clients it had in October 2021, Ejara now reportedly boasts over 70,000 users that hail from nine different French-speaking African countries.

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

Register your email here to get a weekly update on African news sent to your inbox:

What are your thoughts on this story? Let us know what you think in the comments section below.

View the full article

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...