By Staff Writer
Ivorian fintech startup Cauridor has raised US$3.5 million in seed funding to enhance its cross-border payment infrastructure in Africa. The round was led by Pan-African VC firm Oui Capital, with participation from Rally Cap, BKR Capital, and angel investors.
Cauridor aims to simplify payments for merchants, banks, telecom firms, and money transfer services, focusing on underserved Francophone markets. Its network of 25,000+ agents across Guinea, Senegal, Ivory Coast, Sierra Leone, and Liberia enables mobile wallet transactions, bank transfers, and cash pickups.
The fresh funding will drive expansion into new markets, with Mali and Nigeria offices set to open this year. Cauridor is also integrating blockchain-based solutions to streamline settlements and leverage stablecoins for cross-border transactions.
Africa’s fragmented US$100 billion remittance market presents a major opportunity for Cauridor. The startup’s transaction volume surged from US$300 million in 2023 to US$500 million in 2024, with over 90 per cent of revenue now coming from its payment infrastructure.
Strategic partnerships with MoneyGram, Western Union, and telecom giants like Orange and MTN have strengthened its market position, allowing it to scale rapidly while offering competitive forex rates. With a focus on overlooked markets, Cauridor is emerging as a key player in Africa’s fintech landscape.
Source: Launch Base Africa
