The Finteen has a maintenance of major issues for payment of the boundary in francophone Africa
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Until a few years ago, it was difficult to do hard to make payments across the borders almost anywhere in the world. However, there is still a major problem in Africa, where it is divided, cutter systems, higher fees, and poor infrastructure makes business difficult and people to move money quickly and to drive money quickly and to drive.
Most people and businesses that are reduced in expired agents or facilitates with cellphone integration. But there is a virtual need for other cheap and simple ways, especially in the provinces that can be oppressed as Francophone Africa.
Ivorian Fingtech Cauridor is sitting to solve that, and recently raises $ 3.5 million to seeds to continue its merchants, banks, cash transmission companies, and export companies.
Cauridor says their platform supports mobile wallets, networked banks through the network of over 25,000 people in Neguinea, Ivory Coast, Sierra Leone and Leone and Leone and Leone and Leone. These agents are part of the popular distribution system – they often have small businesses equipped with Point-of-Pos devices and enabled the fee, withdrawal and financing.
Caurodor welcomes the hybrid approach to solve the cash transfer matter – in the same way some of the sectors in regional global inflation networks. However, this approach has enabled the use of the remitences in the main markets such as Ghana and Nigeria, and established a group of senior players such as RIA, MoneyGram, and partnerships, and partnerships, and partnerships, and partnerships, and cooperation.
From deception to B2B payments
The founders of Karidor Oumar Rafiou Barry and Abdoulaye Bah first – saw shipping challenges from home and returned home to Guinea when they were reading in Canada. They face quick, expensive, expensive, expensive in Francophone Africa, a long circuit prohibited by the worldwide dismissal.
In 2019, this frustration proceeded to start BNB Cashapp, the specified expedition platform for users in Canada to send money to Africa. The app is compiled directly to banks, mobile wallets such as MTN, as well as a portable portal network to facilitate payment.
But as a platform grows, the founders meet a major challenge: Payment infrastructure is divorced and poor. “We saw in advance that the railway in Francophone Africa were probably not.
Hearing the opportunity, team should be 2022 to build regional billing trains. In 2023, the company had investigated its purchases for consumers and B2B infrastructure under the production of cauridor, such as Tanzania and Rashi operating model.
Shift Paid: In addition to 90% of the company currency now it appears from its payment business. In 2023, Cauridor has considered a total of a million transactions and recorded the total payment amount (TPV) for $ 300 million, growing up to $ 500 million in 2024 million, the company said.
Competition with future programs
While Balry is responsible for some famous players such as the Cauridor competition, he says his company has continued to build the market payments “no one looked,” like Guinea and Liberia.
He noted that customer service and pricing prices are also helpful to customer maintenance. Fintech provides customer service to resolve standard stories as a mobile fee due to incomplete kyc. For example, if the recipient can only receive $ 10 out of $ 700, cauridor steps will help improve their account and ensure that the transaction is transacted.
Barry thinks that the presence of the solid Corridor area gives the edge to find the best forex margin, passing from its customers. He said the benefit has helped the company drawing large clients like MoneyGram, changing competitors in better prices and advanced customer support.
Interestingly, competition in the Cross-Border Border space does not remove partnership. Some of Karidor’s competitors rely on its districts in some districts, as they do not cooperate with companies such as the world-reaching companies.
Cauridor uses about 200 people around the world and has offices in Ivory Coast, Senegal, Guinea, Sierra Leone, Liberia.
The seed cycle led by the Pan-African VC Firm Firm Capital, and he saw participation from Rally Cap, BKR Capital, and other angelic investors.
For new funds, the company plans to extend new markets (with new money offices and Nigeria opening this year), its parties, and enlarge efforts. Barry told Cauridor and prepares a rotation and testing blockchain integration to direct residential settlements and tap the development of the payment area on the African border area.
