Cameroonian Fintech Startup Koree Secures $200,000 in Pre-Seed Funding

The Cameroonian fintech startup Koree precocious secured $200,000 successful pre-seed backing which was led by the co-founder of the Nigerian payments institution Duplo. The fintech said it volition usage the funds raised to motorboat a marketplace that rewards users for the purchases they make.

Users Rewards

The Cameroonian fintech startup Koree precocious announced that it had raised $200,000 successful pre-seed backing to grow its merchant web and bolster its lawsuit base. Tunde Akinnuwa, the co-founder of the Nigerian payments institution Duplo, led the backing round. Other participants successful the circular included the Cameroon Angels Network, Catalytic Africa, and Digital Africa.

According to a report, Koree plans to usage the funds raised to commencement a caller marketplace that enables users to get rewards for their purchases. Magalie Gauze-Sanga, the laminitis of the fintech startup, said that users volition beryllium capable to gain a definite percent of the magnitude they person spent crossed the Koree app’s 14 categories.

“They store arsenic accustomed and gain a definite percent of the magnitude they person spent. The wealth Koree users gain successful their wallet is hard cash, which they tin redeem straight into their mobile wealth account,” the laminitis reportedly said.

Since its motorboat successful 2022, the Cameroonian fintech startup has reportedly amassed implicit 13,000 users and processed much than 50,000 transactions. Besides securing superior via the pre-seed round, the fintech startup won the Orange Fab Cameroon 2023 Challenge, which aims to service arsenic a span betwixt startups and Orange’s assets network.

Koree besides won the Ecobank Fintech Challenge and has utilized the prize wealth to prosecute cardinal unit successful improvement and engineering. Meanwhile, Gauze-Sanga revealed that the fintech startup, which already has squad members successful Cameroon, Côte d’Ivoire, Togo, Nigeria, and Senegal, is hoping to unfastened a carnal bureau successful Douala.

Register your email present to get a play update connected African quality sent to your inbox:

What are your thoughts connected this story? Let america cognize what you deliberation successful the comments conception below.