Koree Raises $200,000 in Pre-Seed Funding for Marketplace Launch
Cameroonian fintech startup Koree has successfully raised $200,000 in pre-seed funding, led by Tunde Akinnuwa, co-founder of Nigerian payments company Duplo. Other participants in the funding round include the Cameroon Angels Network, Catalytic Africa, and Digital Africa. The funds will be used to expand Koree’s merchant network and grow its customer base.
Rewards for Purchases
Koree plans to launch a marketplace that rewards users based on their purchases. Users will earn a percentage of the amount they spend across the Koree app’s 14 categories. The earned money can then be redeemed directly into their mobile money account.
Impressive User Growth
Since its launch in 2022, Koree has gained over 13,000 users and processed more than 50,000 transactions. Alongside securing capital through the pre-seed round, the fintech startup won the Orange Fab Cameroon 2023 Challenge and the Ecobank Fintech Challenge, using the prize money to grow its team and expand operations. Koree is also planning to open a physical office in Douala.
Hot Take: A Promising Future for Koree
Koree’s successful pre-seed funding and growing user base showcase its potential for success in the fintech industry. By offering users rewards for their purchases, Koree encourages customer loyalty and engagement. With its plans for expansion and the support of notable investors, Koree is well-positioned to make a significant impact on the market. As the company continues to innovate and grow, it is likely to attract more attention and secure further investments, driving its success even further.
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