1 year ago
A Kenyan fintech that digitizes recognition unions, Kwara, is reported to person raised $3 cardinal via a effect hold circular that was backed by DOB Equity, Globivest, and Willard Ahdritz. The latest circular brings to $7 cardinal the magnitude of superior that the fintech has present raised via this backing round.
Kwara’s Client Base
Kwara, the Kenyan fintech targeting the financially excluded, has reportedly raised a $3 cardinal effect hold and has signed a integer solutions organisation statement with an enactment representing Kenyan cooperatives. The fintech, which much than doubled its lawsuit basal successful 2023, said it hopes to money its maturation with the superior raised.
According to a Techcrunch report, existing investors participating successful the startup’s effect hold circular see DOB Equity, Globivest, and Willard Ahdritz. Also joining the fintech’s latest backing circular were One Day Yes and Base Capital. The main fiscal serviceman of Revolut, Mikko Salovaara, is reported to person joined this round.
Better Access to Additional Services
Commenting connected the timing of the fintech startup’s statement with the Kenya Union of Savings & Credit Cooperatives (KUSCCO), Kwara co-founder and CEO Cynthia Wandia reportedly said:
We deliberation we’ve hardly scratched the aboveground successful the Kenyan market. And so, we are conscionable going to beryllium truly investing successful products and services that deepen our narration here.
Before the fintech’s latest superior raise, Kwara raised $4 cardinal successful a effect circular that was backed by Breega, Softbank Vision Fund Emerge, Finca Ventures, and New General Market Partners. The latest circular brings to $7 cardinal the magnitude of superior that Kwara has present raised via this backing round.
Through its neobank app, Kwara hopes to springiness members of KUSCCO’s spouse unions improved entree to further services. The aforesaid app besides makes it imaginable for users to straight deposit funds into their respective recognition national accounts, the study said.
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Terence Zimwara
Terence Zimwara is simply a Zimbabwe award-winning journalist, writer and writer. He has written extensively astir the economical troubles of immoderate African countries arsenic good arsenic however integer currencies tin supply Africans with an flight route.
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