Koree Secures $200,000 in Funding to Launch Rewarding Marketplace

Cameroonian fintech startup Koree has successfully secured $200,000 in pre-seed funding, led by Tunde Akinnuwa, co-founder of Nigerian payments company Duplo.

The funding, which included participation from Cameroon Angels Network, Catalytic Africa, and Digital Africa, aims to fuel the expansion of Koree’s merchant network and customer base. The startup plans to utilize the funds to launch a marketplace where users can earn rewards for their purchases across 14 categories on the Koree app.

Founder Magalie Gauze-Sanga highlighted that users can receive a percentage of the amount they spend, which they can redeem directly into their mobile money accounts. Since its 2022 launch, Koree has gained over 13,000 users and processed 50,000 transactions. In addition to securing funding, the fintech won the Orange Fab Cameroon 2023 Challenge and the Ecobank Fintech Challenge, using the prize money to hire key personnel. Koree, with team members in several African countries, aims to establish a physical office in Douala.

Clever Robot News Desk 11^th January 2024