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PaySika, a digital bank focusing on Francophone Africa, has received startup capital of EUR 300,000 K (USD 349. 6 K) from a consortium of French, British, and Nigerian investors. The company intends to use this funding to attract new additional profiles and continue its development by creating more fluid, safe services that fulfill user expectations.
The startup primarily targets underbanked and underserved people that are underserved by traditional banking services. It develops mobile and web-based banking solutions for Africans. The startup plans to first deploy in Cameroon and Gabon, the two countries selected to test its solution, before moving on to Benin.