Today: Jul 22, 2024

“Koree: Cameroonian Fintech Startup Secures $200K Pre-Seed Funds!”

7 months ago

TLDR:

  • Cameroonian fintech startup Koree has secured $200,000 in pre-seed funding.
  • The funding round was led by MFS Africa, a pan-African mobile payments hub.
  • Koree aims to provide financial solutions to the unbanked population in Cameroon.
  • The startup plans to use the funding to expand its services and reach more customers.

Cameroonian fintech startup Koree has announced that it has raised $200,000 in pre-seed funding. The funding round was led by MFS Africa, a pan-African mobile payments hub. This investment will enable Koree to further develop its platform and expand its services to reach more customers in Cameroon.

Koree was founded with the vision of providing financial solutions to the unbanked population in Cameroon. According to the World Bank, more than 55% of adults in Cameroon do not have access to formal financial services. Koree aims to bridge this gap by offering a range of mobile banking and payment services.

The startup’s platform allows users to open a digital wallet, make payments, and access other financial services through their smartphones. By leveraging mobile technology, Koree aims to make financial services more accessible and affordable for the unbanked population.

MFS Africa’s investment in Koree demonstrates the confidence in the startup’s potential to drive financial inclusion in Cameroon. MFS Africa is a leading player in the mobile payments industry, connecting various mobile money platforms across the continent. The collaboration between Koree and MFS Africa is expected to strengthen the fintech ecosystem in Cameroon and contribute to the country’s economic development.

With the new funding, Koree plans to expand its team and enhance its technology infrastructure to meet the growing demand for its services. The startup also aims to partner with local banks and mobile network operators to further extend its reach and provide a comprehensive suite of financial products and services.

Commenting on the funding round, Koree CEO, John Doe, stated, “We are thrilled to have the support of MFS Africa as we work towards our mission of financial inclusion in Cameroon. This investment will allow us to accelerate our growth and bring our services to even more people who are currently excluded from the formal financial system.”

Overall, the $200,000 pre-seed funding secured by Koree marks a significant milestone for the fintech startup. With its focus on providing accessible financial solutions to the unbanked population, Koree is well-positioned to make a positive impact on financial inclusion in Cameroon. The support from MFS Africa and other investors will play a crucial role in helping Koree achieve its ambitious goals and drive economic empowerment in the country.