certify
Home arrow Article arrow Article Detail

Kenyan Fintech Kwara Raises $3 Million in Seed Extension in a Series A Funding Round

Profile Image

Joyashree Dey Follow

INDIA

Jan, 25 2023

Jan, 25 2023

likes | comments 0

Article Image

The Kenyan fintech Kwara, which reportedly collected $3 million in early funding and struck a distribution agreement for digital solutions with a group that represents Kenyan cooperatives, has been targeting the financially excluded. The fintech, which more than doubled its clientele in 2023, stated it plans to use the funds acquired to further its expansion.


A Techcrunch report states that Willard Ahdritz, DOB Equity, and Globivest are among the current investors taking part in the startup's seed expansion round. One Day Yes and Base Capital also contributed to the fintech's most recent fundraising round. Revolut's chief financial officer, Mikko Salovaara, is said to have participated in this round.


Kwara co-founder and CEO Cynthia Wandia allegedly remarked the following in response to the timing of the fintech startup's deal with the Kenya Union of Savings & Credit Cooperatives (KUSCCO):We think we’ve barely scratched the surface of the Kenyan market. And so, we are just going to be really investing in products and services that deepen our relationship here.


Kwara raised $4 million in a seed round before the fintech's most recent funding round, with support from Breega, Softbank Vision Fund Emerge, Finca Ventures, and New General Market Partners. The most recent round takes Kwara's total money received during this funding round to $7 million.


Kwara wants to provide better access to additional services for the union partners of KUSCCO through its neobank app. According to the report, users of the same app can also deposit money straight into their individual credit union accounts. 


likes | comments 0

Profile Image

Joyashree Dey

CBW - External Analyst

INDIA

Comments
Data Centre Construction - World First artificial intelligence AI-Tech Utility Token
banner
Article
Animoca Ventures leads $1M seed funding round for Narwhal Finance

With participation from Hailstone Ventures and various angel investors, Narwhal Finance which is a decentralized cross-market perpetual trading platform built on BNB Chain and Arbitrum has announced;

Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.