A Kenyan fintech that digitizes credit unions, Kwara, is reported to have raised $3 million via a seed extension round that was backed by DOB Equity, Globivest, and Willard Ahdritz. The latest round brings to $7 million the amount of capital that the fintech has now raised via this funding round.
Kwara’s Client Base
Kwara, the Kenyan fintech targeting the financially excluded, has reportedly raised a $3 million seed extension and has signed a digital solutions distribution agreement with an organization representing Kenyan cooperatives. The fintech, which more than doubled its client base in 2023, said it hopes to fund its growth with the capital raised.
According to a Techcrunch report, existing investors participating in the startup’s seed extension round include DOB Equity, Globivest, and Willard Ahdritz. Also joining the fintech’s latest funding round were One Day Yes and Base Capital. The chief financial officer of Revolut, Mikko Salovaara, is reported to have joined this round.
Better Access to Additional Services
Commenting on the timing of the fintech…