Cameroon-based fintech startup Nkwa App has raised $15,000 in Seed Funding to accelerate financial inclusion and promote a saving culture
The funding came from local angel investors called Cameroon Angels Network (CAN). Launched in 2020, Nkwa allows its users to regularly save money directly from their mobile phones simply and more safely for their future projects. The startup, which is supported by Cameroon’s Ministry of Finance, plans to invest the latest round of funding in onboarding more customers and scaling operations. Nkwa was among 15 African fintech startups selected to participate in the fifth edition of “CATAPULT: Inclusion Africa,” organized by the Luxembourg House of Financial Technologies (LHoFT) last October.
The European Investment Bank’s (EIB) global development arm, EIB Global, has committed €25 million to Amethis Fund III, a pan-African private equity fund.
Zambian fintech Lupiya has raised $8.25 million in a Series A funding round led by Alitheia IDF Fund, with participation from INOKS Capital SA and the German Investment Bank KfW DEG.
South African artificial intelligence (AI) software company Spatialedge has secured R60 million (approximately $3.15 million USD) in funding from Hlayisani Growth Fund.
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