Ranked number one in the Central African start-up ecosystem, Cameroun’s popular start-ups can be found in the fintech, health, e-commerce and retail industries in three of its cities – Douala, Buea and Yaounde.
It is also regarded as one of the fast-rising innovation communities in Africa due to its two unique systems – the francophone and anglophone ecosystems. The presence of both English-speaking and French-speaking communities reflects Africa’s diversity based on its geographic sphere and culture.
Below are the top three investments in its fintech industry for last year:
Diool: The platform helps small merchants in Africa accept payments from customers and pay back suppliers using tech, data and financial products. It was founded in 2015 and started out as a recharge card venture before venturing into financial services. It raised $3.5 million in a series funding round to expand its operations.
Kappa Pay: The smartest way to move money in and out of Africa leverages blockchain solutions to facilitate instant and cross-border payments. Founded in 2020 during the pandemic, it completed a pre-seed funding round of $2.1 million to facilitate the movement of money in and out of Africa for the benefit of African businesses and consumers.
Related: Top 3 Fintech Investments in Morocco
Ejara: Ejara is a platform allowing francophone Africa to access various affordable investment offers – fractional shares, crypto and more. The start-up proffers simple, mobile-based cryptocurrency investment and savings options, as well as financial literacy tools. It is one of the first crypto-focused fintechs serving francophone African countries. The one-year-old company raised $2 million to pioneer the usage of crypto investment services in the region.