Kwara, a fintech startup, has raised a $3 million seed extension led by DOB Equity, Globivest, and the founder of Kobalt Music.
The new funding brings the total seed amount raised by the startup to $7 million.
According to Cynthia Wandia, CEO, Kwara, they have spent the last three years uplifting the credit union sector in Kenya, becoming the leading core banking provider in Kenya.
“Our clients grow up to 4 times faster than other credit unions and serve members up to 100 times more efficiently,” she said concerning acquiring the Kenya Union of Savings & Credit Cooperatives (Kuscco) ‘s subsidiary, IRNET, a software company and provider for Saccos, for an undisclosed amount.
“This acquisition enables us to place a digital banking experience in the hands of every credit union in Kenya, together with the most established credit union partner in Kenya.”
