New Investments

Cameroonian Fintech Koree Secures Pre-Seed Funding for Growth

Cameroonian fintech Koree, which helps people save their spare change digitally, has secured $200,000 in pre-seed funding to expand its reach and offer.
 

The investment, backed by prominent names like Tunde Akinnuwa (Duplo co-founder), Cameroon Angels Network, and Catalytic Africa, will fuel Koree’s mission to tackle the challenge of spare change in cash-heavy economies.

“We’re thrilled by the investor confidence in our vision,” says Koree founder Magalie Gauze-Sanga. “This funding will allow us to onboard more merchants, grow our user base, and refine our platform to achieve the perfect product-market fit.”

Koree’s platform tackles the problem of loose change by linking cards and digital wallets to a network of merchants.

Customers earn cashback on everyday purchases, while merchants gain access to tools for creating loyalty programs.

But Koree’s ambitions extend beyond spare change. Gauze-Sanga reveals plans for a new marketplace on the Koree app, offering shoppers rewards in 14 categories, from groceries and dining to movies and pharmacy.

To simplify the redemption process, Koree will collaborate with popular mobile money providers.

Since its launch in September 2022, Koree has amassed over 13,000 users, processed 50,000+ transactions, and generated 30,000 private wallets. Its revenue model combines merchant subscription fees and transaction commissions.

Koree’s achievements haven’t gone unnoticed. The startup emerged victorious in both the Orange Fab Cameroon and Ecobank Fintech Challenges, earning $50,000 in non-dilutive funding and valuable mentorship.

With a fresh round of backing and a clear roadmap, Koree seeks to disrupt the financial landscape in Cameroon and beyond, empowering both businesses and consumers through innovative savings and rewards solutions.

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