A Cameroonian fintech start-up, Ezara, has raised 2 million to advance the use of crypto and investment services in French-speaking African countries. Coinshares Ventures and Anthemis Group led the funding round where they were joined by Mercy Corps Ventures, Lateral Capital, Lofty Incap Capital and NetX Fund.
Francophone uses crypto to protect savings in Africa
According to a report, the start-up, founded by Cameroonian Nellie Chatu-Diop, “wants to level the playing field for the average French-speaking African so they can invest as little as $ 9 (CFA5,000).” In addition, Chatu-Diop hopes that through this start-up, non-elites in the region, like his family, can live and avoid the painful experience of losing everything.
“I was really young and we were part of the middle class. Overnight all our savings were reduced and after that the government could not even pay salaries. So even at that tender age, I asked myself how we were able to do everything right and still end up in that area. So it stayed in my mind, ”explained Chatu-Diop.
According to the report, it was Chatu-Diop’s family experience that inspired him to learn about the blockchain and eventually partner with Baptist Andrews to start a lease in Cameroon.
According to the founder, the lease, which already boasts nearly 8,000 users from six French-speaking African countries, “plans to diversify the delivery of other assets, including fractional shares, stocks and products.”
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