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African Startup Funding Tracker

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Fintech Company Cadana Raises USD 7.1 M Seed Funding
Fintech Company Cadana Raises USD 7.1 M Seed Funding

Fintech startup Cadana, has secured USD 7.1 M seed funding to revolutionize remittances for African professionals. This financial injection which was led by Costanoa Ventures, including contributions from Better Tomorrow Ventures and 500 Startups is aimed at improving Cadana’s payroll services, which cater to international hiring platforms and financial institutions.

Founded in 2021 by Albert Owusu-Asare from Ghana and Ameer Shujjah from Pakistan, the CTO. Cadana specializes in simplifying payroll processes for a variety of clients, including talent marketplaces, staffing firms, and human resources providers. Cadana’s services enable  businesses to compensate their workforce across more than 32 emerging markets, with a particular focus on countries like Nigeria and Ghana.