Simply over 12 months after elevating $2 million, the Cameroonian fintech whose app permits customers to purchase and retailer crypto belongings lately mentioned it had acquired $8 million in its Collection A funding spherical. Based on Ruth Foxe Blader, accomplice at Anthemis, Ejara goals to turn out to be the one-stop platform the place “a set of monetary merchandise will likely be accessible at their fingertips, with out the necessity for any crypto data.”
Proudly owning the Keys to Your Crypto
Ejara, the Cameroonian fintech whose app allows customers to purchase and retailer cryptocurrency in decentralized wallets, lately mentioned it had raised $8 million through 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.
Collaborating within the newest spherical have been Mercy Corps Ventures, Coinshares Ventures, and Lateral Capital which similar to Anthemis had equally joined the fintech startup’s earlier spherical. Based on a Techcrunch report, new traders embody Circle Ventures, Moonstake, Emurgo, Hashkey Group, and BPI France, whereas Blockworks co-founder Jason Yanowitz is likely 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 through a seed spherical. In the meantime, the newest capital brings the full 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 all the time thought that, if you wish to personal crypto, that you must personal your keys. And that is just about what’s saved us in turbulent instances.
From the round 8,000 shoppers it had in October 2021, Ejara now reportedly boasts over 70,000 customers that hail from 9 completely different French-speaking African international locations.
In the meantime, Ruth Foxe Blader, accomplice at Anthemis, famous that Ejara had no intentions of “limiting itself to being a crypto app.” As a substitute, the fintech is looking for to turn out to be a one-stop platform the place “a set of monetary merchandise will likely be accessible at [users’] fingertips, with out the necessity for any crypto data.”
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Terence Zimwara is a Zimbabwe award-winning journalist, writer and author. He has written extensively concerning the financial troubles of some African international locations in addition to how digital currencies can present Africans with an escape route.
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