Ejara raises $8 million in a Series A investmen

The Cameroonian crypto and savings platform Ejara has received an $8 million Series A investment. Cryptocurrency-focused Dragonfly Capital and London-based Anthemis led the expansion round together. A second investor in Ejara is Anthemis, which also led the fintech’s $2 million seed round that was announced in October. Investors may utilize the fintech firm’s service to buy bitcoin and save their funds in secure, blockchain-based wallets. By allowing clients in Francophone Africa to purchase, sell, trade, and maintain their crypto assets, Ejara’s CEO Nelly Chatue-Diop, and her co-founder Baptiste Andrieux took advantage of the opportunity they saw to increase cryptocurrency activity in the area. In contrast to the majority of African crypto platforms, which only offer users custodial wallets, the fintech firm gives its customers the option of using non-custodial wallets so that they may own and keep their keys. That decision has paid off, particularly in light of the recent bankruptcy of FTX and other crypto firms, which has once again brought into sharp focus the importance of consumers prioritizing privacy and ownership when dealing with cryptocurrencies and tokenized assets. New backers who joined later venture capital firms, including Circle Ventures, Moonstake, Emurgo, Hashkey Group, and BPI France, have joined existing ones like Mercy Corps Ventures and Coinshares Ventures in this round of investing. Blockwoks co-founder Jason Yanowitz is one of the round’s angel investors.