Fun

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

News Feed - 2021-10-10 10:10:27

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


A Cameroonian fintech start-up, Ejara, has raised $2 million to pioneer the usage of crypto and investment services in French-speaking African countries. Coinshares Ventures and Anthemis Group led the funding round in which they were joined by Mercy Corps Ventures, Lateral Capital, Lofty Inc Capital, and Netx Fund. Using Crypto to Protect Savings in Francophone Africa


According to a report, the start-up, which was founded by Cameroonian Nelly Chatue-Diop, wants to “level this playing field for the average French-speaking African so they can invest as little as $9 (CFA5,000).” In addition, Chatue-Diop hopes that through this start-up, the non-elites from this region can also save and avoid going through the painful experience of losing everything as her family did.


“I was really young and we were part of the middle class. Overnight all our savings dwindled and the aftermath was that the government couldn’t even pay salaries. So even at that tender age, I asked myself how we managed to do everything right and still end up in that zone. So it stayed on my mind,” explained Chatue-Diop.



As noted in the report, it was Chatue-Diop’s family experiences that motivated her to learn about blockchain and to eventually partner with Baptiste Andrieux to start Ejara in Cameroon.


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


What are your thoughts about this story? Tell us what you think in the comments section below. Pan-African Exchange Yellow Card Raises $15 Million in Latest Funding Round CROWDFUNDING | Sep 29, 2021 Swiss State Secretariat Helps Blockchain Incubator Firm Set Up Base in South Africa CROWDFUNDING | Jul 15, 2021 Tags in this story Africa fintech, Anthemis Group, Coinshares Ventures, crypto savings, fractional shares, Francophone Africa crypto, Mercy Corps Ventures, Nelly Chatue-Diop


Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Brian Quarmby7 hours agoStars Arena secures funds to plug $3M exploit, set to reopen after security auditStars Arena was hacked for roughly $3 million worth of AVAX tokens, with the hacker reportedly sending the funds to
Gareth Jenkinson12 hours agoSam Bankman-Fried FTX trial — 5 things you need to knowThe long-awaited trial of former FTX CEO Sam Bankman-Fried gets underway on Oct. 4 — here’s what you need to know.2483 Total views7
DeFi hub Chainage seeks tokenholder approval for $13M capital raise
Zhiyuan Sun6 hours agoDeFi hub Chainage seeks tokenholder approval for $13M capital raise“Pending DAO approval, we will advance with the particulars of the investment and detail the precise arrangements and plans,” t
Nigerian Crypto Payment Gateway Fluidcoins Acquired by Seychelles-Based Crypto Exchange
Nigerian Crypto Payment Gateway Fluidcoins Acquired by Seychelles-Based Crypto Exchange The Nigerian crypto payment gateway Fluidcoins was recently bought for an undisclosed sum by
Crypto Allows Ukraine to ‘Operate Internationally,’ Official Says
Crypto Allows Ukraine to ‘Operate Internationally,’ Official Says Amid ongoing hostilities with advancing Russian forces, Ukraine has been increasingly relying on cryptocurrenc
LGND Curates Major NFT Art Gallery at ComplexCon
LGND Curates Major NFT Art Gallery at ComplexCon press release PRESS RELEASE. Austin, Texas – LGND Art Inc. announces its foremost curatorial effort to date, a major NFT art
Martin Young19 hours agoBitcoin miners send record $128M in revenue to exchangesBitcoin miners have sent up to 315% of their daily revenue to exchanges but BTC prices are yet to react.8628 Total views9 Total sharesListen
Bitcoin Nears $76,000 Target Amid Price Correction — But Will This Support Hold?
Este artículo también está disponible en español. Over the past week, Bitcoin has experienced a strong market correction with prices falling as low as $80,000. Based on a
Bitcoin Demand Soars As BTC Reclaims $82K — Is $100K Within Reach?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
FBI Director: Cryptocurrency Is ‘Significant Issue’ for Law Enforcement
Federal Bureau of Investigation Director Christopher Wray says cryptocurrency is a “significant issue” that is likely to become a “bigger and bigger” problem for the law enforcement agency.
Mozaic Finance hacked for $2.4M via private key compromise
Christopher Roark3 hours agoMozaic Finance hacked for $2.4M via private key compromiseThe yield farming app was exploited through a possible private key compromise, according to a CertiK report.823 Total views28 Total sh
Is BONK Rally In Jeopardy? Technical Indicators Confirm Weakness
Este artículo también está disponible en español. BONKis facing mounting bearish pressure as technical indicators signal growing weakness in the market. After a brief att