Ejara, a Cameroonian crypto Startup, announced that it has successfully raised $2 million in a recent funding round. As a Startup in the Francophone regions of Africa, Ejara hopes to utilize this fund to increase the awareness and adoption of crypto in the French-speaking parts of Africa.
The funding round was successful due to the inputs of some contributors. Primarily, Anthemis Group and CoinShares Ventures championed this round. In addition, some investors also pooled resources together for this round.
They include NetX Fund, Mercy Corps Ventures, LoftyInc Capital, Lateral Capital, Jason Yanowitz of Blockworks, Pascal Gauthier of Ledger. An unnamed syndicate firm also contributed.
“We are excited to work with Nelly and the Ejara team to deliver financial services via non-custodial wallets and offer a new level of trust and transparency to Francophone savers and investors,” says a spokesman of CoinShares Ventures.
Furthermore, Chatue-Diop, the CEO and Founder, noted that Ejara seeks to provide a contextualized product to the French-speaking African countries. In her view, many crypto Startups have not built products that were customized for the Francophone countries.
Thus, Chatue-Diop informed the press that the hallmark and long-term goal of Ejara is to ensure financial inclusion in that part of the continent.
“The built-in transparency and security of the blockchain combined with the popularity of mobile banking in Africa made it clear to me that a blockchain-based mobile investment platform was the key to expanding financial inclusion,” she said.
With this fund, Chatue-Diop noted that the Startup will focus on crypto education, territorial expansion, team growth, and refinement of products to meet the exact demand of the users.
Read more: Bitmama Raises $350k In A Pre-Seed Round.