Browsing: Kwara

• Kwara has raised a US$3 million seed extension and signed an agreement to acquire a subsidiary of the Kenyan Union Of Savings and Credit Cooperatives (Kuscco)
• Kwara also announced the acquisition of IRNET, a software provider owned Kuscco
• Investors in the round include existing backers DOB Equity, Globivest and One Day Yes and Base Capital

Kenyan startup Kwara has raised a US$3 million seed extension and signed an agreement to acquire a subsidiary of the Kenyan Union Of Savings and Credit Cooperatives (Kuscco).

On January 13, 2022, Kwara announced the acquisition of IRNET, a software provider owned by the national body of credit unions in Kenya – Kuscco.

Investors in the round include existing backers DOB Equity, Globivest and the founder of Kobalt Music. New investors, mainly African VCs, participated as well. They include One Day Yes and Base Capital and fintech executives including Mikko Salovaara, CFO of Revolut.

Kwara …

Kenyan based Digital banking platform Kwara has announced the launch of its Kwara Pronto digital banking platform which is planned to help SACCOs at risk of disruption from the Coronavirus pandemic (COVID-19) to quickly go digital, remain in operation and continue serving members.

The platform will be offered free for 3 months and will be available for the first 50 SACCOs who qualify.

Due to government-enforced restrictions on movement and social distancing measures during COVID-19, SACCOs are unable to operate at full capacity. As a result, members face challenges applying for loans, transacting and accessing their funds.

Kwara is offering access to an essential version of its core digital banking platform, which will enable SACCOs who qualify to quickly onboard and bring their operations online, at no cost, for the next 3 months. This is an effort to enable SACCOs and their members to keep transacting while observing social distancing.…