Fintech Koree gets funding to start Cameroon operations
Fintech startup Koree has secured €20 000 from a network of angel investors in Cameroon – Cameroon Angels Network (CAN) – to pursue its Francophone Africa expansion.
The seed funding, which is part of CAN’s first quarter investment plan, will enable Koree to kick-start operations in Cameroon.
Koree, which runs dual mobile applications Koree and Koree Pro, already has operations in Côte d'Ivoire.
The funding will help the startup grow its workforce by recruiting full-time sales and development personnel, and create new financial services.
The angel investor backing also includes admission into ActivSpaces (incubation hub) innovation centre and incubator’s portfolio of supported startups.
“CAN is committed to supporting tech-driven startups financially and operationally, thus helping improve the startup success rate by providing seed funding.
"The organisation is particularly excited to work with Koree, a female-led startup offering innovative digital solutions to a widespread problem,” Cameroon Angels Network said in a statement.
Koree is seeking to transform the retail payment and marketing landscape in Sub-Saharan Francophone Africa by offering inclusive solutions to both customers and merchants.
The founder of Koree, Magalie Gauze-Sanga, said she wants to simultaneously resolve the ‘change shortage’ in Francophone Africa and empower clients through an incentive reward system.
Koree notes on its website that it is keen on digitising small change. “We created a simple, secure, 100% digital and practical solution so that shoppers can enjoy the best offers and get incentives on their shopping.”