Cameroonian Fintech Ejara Raises $8 Million in Series A Investment Round

Cameroonian Fintech Ejara Raises $8 Million in Series A Investment Round

Just over 12 months after raising $2 million, the Cameroonian fintech 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 the one-stop platform where “a suite of financial products will be accessible at their fingertips, without the need for any crypto knowledge.” Owning the Keys to Your Crypto

Ejara, the Cameroonian fintech whose app enables users to buy and store cryptocurrency in decentralized wallets, recently said it had raised $8 million via a series A investment. The fintech’s latest fundraising series was jointly led by the United Kingdom-based venture capital (VC) firm Anthemis and Dragonfly Capital.

Participating in the latest round were Mercy Corps Ventures, Coinshares Ventures, and Lateral Capital which 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 that participated in the round.

The fintech’s latest capital raise comes just over 12 months after Ejara said it had secured $2 million via a seed round. Meanwhile, the latest capital brings the total funds that the fintech has raised in under 18 months to $10 million. Commenting on the company’s latest capital raise, Nelly Chatue-Diop, the CEO at Ejara, is quoted as saying: When everyone was taking the other route and building centralized exchanges, we always thought that, if you want to own crypto, you need to own your keys. And that’s pretty much what’s saved us in turbulent times.

From the around 8,000 clients it had in October 2021, Ejara now reportedly boasts over 70,000 users that hail from nine different French-speaking African countries.

Meanwhile, Ruth Foxe Blader, partner at Anthemis, noted that Ejara had no intentions of “limiting itself to being a crypto app.” Instead, the fintech is seeking to become a one-stop platform where “a suite of financial products will be accessible at [users’] fingertips, without the need for any crypto knowledge.”

Register your email here to get a weekly update on African news sent to your inbox:

Tags in this story Dragonfly Capital, Ejara, Fintech, Mercy Corps Ventures, Nelly Chatue-Diop, Ruth Foxe Blader, seed round, Series A

What are your thoughts on this story? Let us know what you think in the comments section below. Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route. Defichain Co-Founder: FTX"s Collapse Has Rekindled Interest in Defi and Associated Products FINTECH | Nov 18, 2022 Ripple Partners With Africa-Focused Remittances and Payments Firm MFS Africa FINTECH | Nov 18, 2022

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleCrypto Exchange Kraken Settles With Treasury Department Over Sanctions Violations Next articleGame7 Launches $100 Million Grants Program to Push Web3 Gaming Development 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 More Popular NewsIn Case You Missed ItTony Hawk"s Latest NFTs to Come With Signed Physical Skateboards

Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.Today"s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits Fed"s Bullard Wants to Raise Bank Rate to 3.5% by Year"s End, Hints at 75 Basis Point Rate Hike FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design