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One-Year-Old Crypto Startup Ejara Raises $2M To Aid Francophone Africa

According to a report, two percent of global cryptocurrency transactions are currently housed in Africa — an alarming statistic for a continent housing over one billion people who serve as the demographic for the smallest cryptocurrency market in the world. On a mission to change this, TechCrunch reports Nelly Chatue-Diop founded Ejara to serve as a cryptocurrency and investment platform within Francophone Africa. Little did she know, a financial crisis she experienced at a young age due to the devaluation of the CFA franc in 1994, would lead her to launch the tech company, which would provide additional avenues to accumulate income. Now — just about a year after its launch — Ejara has raised a $2 million seed funding round led by CoinShares Ventures and Anthemis Group. Other participants included angel investors Pascal Gauthier of Ledger and Jason Yanowitz of Blockworks along with a syndicate social fund, Lateral Capital, Mercy Corps Ventures, LoftyInc Capital and NetX Fund.

Samantha Dorisca

Oct 7, 2021