Cameroonian Crypto Startup Raises USD 2 Mn Funding

Ejara, a Cameroonian crypto startup, has raised USD 2 Mn to pioneer the usage of crypto and investment services in francophone Africa. The round was led by CoinShares Ventures and Anthemis Group. They are joined by Mercy Corps Ventures, Lateral Capital, LoftyInc Capital, and NetX Fund. Two angel investors, Pascal Gauthier of Ledger and Jason Yanowitz of Blockworks, and a syndicate social fund also participated.

Ejara has users from Cameroon, Ivory Coast, Burkina Faso, Mali, Guinea, and Senegal, as well as French-speaking Africans in the diaspora (Europe, Asia, and the U.S.), and caters to them via a partnership with crypto payment infrastructure company MoonPay so they can remit money to friends and family in Africa. The company plans to diversify into providing other assets, including fractional shares, stocks, and commodities.