Money Money Money: Kenyan Fintech Kwara Raises $3M in Seed Extension
Who said money doesn’t grow on trees? For Kenyan Fintech, Kwara, it certainly does. The company recently announced that it has secured a whopping $3 million in seed extension funding.
What makes Kwara so hot right now?
Well, Kwara is a fintech platform designed to provide financial inclusion and innovative, transparent banking services to people who don’t have access to the traditional banking system. The platform actively works to bridge the gap between people and financial service providers and provide access to digital banking services to both individuals and businesses. Pretty cool, right?
Who has put their money behind Kwara?
Startupbootcamp AfriTech and IFC (US International Development Agency) were the major investors that put their faith in Kwara and participated in the seed extension. But they weren’t the only ones. Other amazing investors like the Lundin family, FSD Africa, and IMImobile put their money where their mouth is.
What are they going to do with all that cash?
According to the co-founder of Kwara, Bosun Tijani, they plan to use the funds to “accelerate [their] growth in key markets.”
As well as that, they plan to use the money to grow their team and build the platform’s infrastructure. Tijani made sure to emphasize that they’ll be using the money to “…improve the speed and quality of our services so more African businesses, freelancers, and everyday people can access our financial services faster and easier.”
Can’t forget about the fun stuff!
Yeah, we know work is important, but life is all about balance, right? And Kwara understands that too. They’re also planning to use the funds to do really exciting stuff, like increase the number of financial products they offer and diversify their marketing plans.
So, it looks like Kwara is going to be making some noise in the near future. And hey, if you’re part of the Kenyan population that’s un(der)served by traditional banks? You should definitely check out their platform and take advantage of all the great offerings they have.
Quite frankly, I’m super excited for Kwara and what they’re doing! Not only do they offer dozens of innovative financial services and products, but they’re also doing their part in bringing financial inclusion to people that need it the most. So, you go Kwara!
Now, it’s off to the bank for me to deposit some of my hard-earned cash… And let’s face it, I’m a fan of Kwara cause I don’t want to actually step foot in the bank.
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