Just over 12 months after raising $2 million, the Cameroonian fintech whose app allows users to buy and store crypto assets recently announced that it had received $8 million in its investment round of Series A. According to Ruth Foxe Blader, Partner at Anthemis, Ejara aims to become the single platform where “a suite of financial products will be accessible at your fingertips, without the need for crypto knowledge.”
Own the keys to your crypto
Ejara, the Cameroonian fintech whose app allows users to buy and store cryptocurrency in decentralized wallets, recently said it raised $8 million through a Series A investment. fintech fund was jointly led by UK-based venture capital firm Anthemis and Dragonfly Capital.
Mercy Corps Ventures, Coinshares Ventures and Lateral Capital which, like Anthemis, also joined the fintech startup’s previous round, participated in the latest round. According to a Techcrunch reportnew investors include Circle Ventures, Moonstake, Emurgo, Hashkey Group and BPI France, while Blockworks co-founder Jason Yanowitz is one of the angel investors who participated in the round.
The fintech’s latest fundraising comes just over 12 months after Ejara said he secured $2 million through a funding round. Meanwhile, the latest capital brings the total funds the fintech has raised in less than 18 months to $10 million. Commenting on the company’s latest capital increase, Nelly Chatue-Diop, CEO of Ejara, reportedly said:
When everyone was going the other way and building centralized exchanges, we always thought that if you want to own crypto, you have to own your keys. And that’s pretty much what saved us in turbulent times.
Of the approximately 8,000 customers it had in October 2021, Ejara now has more than 70,000 users from nine different French-speaking African countries.
Meanwhile, Ruth Foxe Blader, partner at Anthemis, noted that Ejara has no intention of “limiting itself to being a crypto application”. Instead, the fintech seeks to become a single platform where “a suite of financial products will be accessible to [users’] at your fingertips, without the need for cryptographic knowledge.
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