Cameroonian Fintech Ejara Raises $8 Million in Series A Investment Round – Fintech Bitcoin News
Just over 12 months after raising $2 million, the Cameroonian fintech app, 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 a platform where “a suite of financial products will be available at your fingertips, without the need for crypto knowledge.”
Owning the keys to your crypto
Ejara, the Cameroonian fintech app whose app allows users to buy and store cryptocurrency in decentralized wallets, recently said it had raised $8 million via a Series A investment. Fintech’s latest fundraising round was jointly led by UK-based venture capital (VC) firm Anthemis and Dragonfly Capital.
Participating in the latest round were Mercy Corps Ventures, Coinshares Ventures and Lateral Capital who, 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 who participated in the round.
The fintech’s latest capital raising comes just over 12 months after Ejara said it had secured $2 million via a seed round. Meanwhile, the latest round of capital brings the total funds raised by the fintech in under 18 months to $10 million. Commenting on the company’s latest capital raising, Nelly Chatue-Diop, CEO of Ejara, is quoted as saying:
When everyone went the other way and built centralized exchanges, we always thought that if you want to own crypto, you have to own your keys. And that is largely what has saved us in turbulent times.
From the roughly 8,000 customers it had in October 2021, Ejara now reportedly has over 70,000 users hailing from nine different French-speaking African countries.
Meanwhile, Ruth Foxe Blader, partner at Anthemis, noted that Ejara had no intention of “limiting itself to being a crypto app.” Instead, fintech seeks to become a one-stop platform where “a suite of financial products will be available on [users’] fingertips, without the need for cryptography.”
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