Kwara, a Kenyan FinTech company that targets the economically disadvantaged, is said to have raised USD 3 million in seed funding and signed a distribution deal for digital products with a group that represents Kenyan cooperatives.
The FinTech, whose clientele more than doubled in 2023, stated that it intends to use the funds raised to finance its expansion. Existing investors DOB Equity, Globivest, and Willard Ahdritz are reportedly taking part in the startup’s seed extension round. One Day Yes and Base Capital also participated in the most recent round of financing for the FinTech.
Mikko Salovaara, Revolut’s CFO, is rumored to have participated in this round. The amount of capital that the FinTech has now raised through this funding round is USD 7 million thanks to the most recent round.