Ivorian fintech startup Cauridor has successfully secured $3.5 million in seed funding to enhance its cross-border payment infrastructure across Francophone Africa. The funding round was led by Oui Capital, with participation from Rally Cap, BKR Capital, and various angel investors.
Founded by Oumar Rafiou Barry and Abdoulaye Bah, Cauridor addresses the fragmented payment systems in the region by providing seamless transactions between mobile wallets, bank transfers, and cash pickups. Operating through a network of over 25,000 agents, the company facilitates payments in Guinea, Senegal, Ivory Coast, Sierra Leone, and Liberia.
Initially launched as a consumer remittance platform, Cauridor pivoted in 2022 to focus on B2B payment solutions. This strategic shift has proven successful, with the company’s payment rails division now accounting for over 90% of its revenue and achieving a total payment volume exceeding $500 million in 2024.
The newly acquired funds will be utilized to strengthen Cauridor’s payment infrastructure and expand its services into new markets, including Mali and Nigeria. Additionally, the company is preparing for a Series A funding round and is exploring blockchain integration to streamline settlements, capitalizing on the growing adoption of stablecoins in Africa’s cross-border payment landscape.
This investment underscores the increasing confidence in fintech solutions that address the unique financial challenges within the African continent.
Read more on Tech Gist Africa:
Hub2, an Ivory Coast fintech startup, has raised $8.5 million in a Series A round of funding
StarNews Mobile, based in the Ivory Coast, has received $3 million in funding
Anka, an e-commerce platform based in the Ivory Coast, has raised $5 million
