Start-up Raises $2 Million to Pioneer Cryptocurrency Usage in Francophone Africa

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A Cameroonian fintech start-up, Ejara, has raised $2 cardinal to pioneer the usage of crypto and concern services successful French-speaking African countries. Coinshares Ventures and Anthemis Group led the backing circular successful which they were joined by Mercy Corps Ventures, Lateral Capital, Lofty Inc Capital, and Netx Fund.

Using Crypto to Protect Savings successful Francophone Africa

According to a report, the start-up, which was founded by Cameroonian Nelly Chatue-Diop, wants to “level this playing tract for the mean French-speaking African truthful they tin put arsenic small arsenic $9 (CFA5,000).” In addition, Chatue-Diop hopes that done this start-up, the non-elites from this portion tin besides prevention and debar going done the achy acquisition of losing everything arsenic her household did.

“I was truly young and we were portion of the mediate class. Overnight each our savings dwindled and the aftermath was that the authorities couldn’t adjacent wage salaries. So adjacent astatine that tender age, I asked myself however we managed to bash everything close and inactive extremity up successful that zone. So it stayed connected my mind,” explained Chatue-Diop.

As noted successful the report, it was Chatue-Diop’s household experiences that motivated her to larn astir blockchain and to yet spouse with Baptiste Andrieux to commencement Ejara successful Cameroon.

According to the founder, Ejara, which already boasts immoderate 8,000 users from the six French-speaking African countries, plans to “diversify into providing different assets, including fractional shares, stocks and commodities.”

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