The Cameroonian platform launched three years ago has attracted investments from across the globe. In 2022, it was the Central African startup to attract the second-highest volume of funding. 

Blockchain-backed accelerator Adaverse announced Monday a strategic investment in Ejara, the Cameroonian investment platform that improves financial inclusion through blockchain technology. 

The investment, whose amount was not disclosed, will support Ejara's drive to empower itself and expand into new markets in Francophone Africa.

“Ejara meets a pressing need across the Francophone region, and we are excited about the business model, which we believe can be replicated across the African continent. They have shown that they understand the people and have built a bridge between crypto and traditional finance, leveraging continuity rather than disruption,”  said Vincent Li, founding partner at Adaverse. 

Since its launch in 2020, Ejara has completed several funding rounds. The last before this financing was in November 2022, when it secured $8 million from several investors. 

To date, Ejara has served more than 33,000 people from Cameroon, Côte d'Ivoire, Burkina Faso, Mali, Guinea, Senegal, and the Francophone African diaspora in Europe, Asia, and the United States. The fintech startup has also launched cross-border money transfers and user-to-user payments for Africans in the diaspora.

With this new funding, it wants to conquer Francophone African countries, democratizing access to crypto-currency investments by offering the average resident the opportunity to invest as little as CFAF1,000 (~$2) and earn interest daily.  

Samira Njoya