The Kenyan Fintech Kwara collects $ 3 million in Seed Extension - FinTech
The Kenyan Fintech Kwara collects $ 3 million in Seed Extension - FinTech
A Kenyan FinTech that digitizes credit cooperatives, Kwara, is said to have collected $ 3 million by a seed expansion round, which was supported by DOB Equity, Globivest and Willard Ahdritz. The last round amounts to $ 7 million, which the FinTech has now applied through this financing round.
Kwara's customer basis
Kwara, the Kenyan Fintech, which is aimed at financially limited, has reportedly applied a seed expansion of $ 3 million and signed a sales agreement for digital solutions with an organization that represents the Kenyan cooperatives. The fintech, which more than doubled its customer base in 2023, hopes to be able to finance its growth with the raised capital.
according to a techcrunch Test report The existing investors who take part in the Seed expansion round of the startup are Dob Equity, Globivest and Willard Ahdritz. One Day Yes and Base Capital also took part in the most recent round of FinTech. The Chief Financial Officer of Revolut, Mikko Salovaara, is said to have joined this round.
Better access to additional services
Cynthia Wandia, co-founder and CEO of Kwara, reported reported the time of the agreement of the FinTech startup with the Kenya Union of Savings & Credit Cooperative (Kuscco):
We believe that we hardly scratched the surface on the Kenyan market. So we will really invest in products and services that deepen our relationship here.
Before the recent capital increase of the fintech, kwara brought up $ 4 million in a seed round Breega, Softbank Vision Fund Emerge, Finca Ventures and New General Market Partners. The last round brings the capital amount that Kwara has now spent on this financing round to $ 7 million.
About his Neobank app, Kwara hopes to enable members of the Kuscco partner unions to get improved access to additional services. The same app also enables users to pay funds directly to their respective credit cooperative accounts, according to the report.
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