Cameroonian startup Koree, a consumer app that acts as a digital wallet for loyalty cards, is planning to expand across Francophone Africa with the help of matching funding from Catalytic Africa. Founded in September 2022, Koree allows consumers to digitally collect their spare change from cash retail payment roundups and earn cashback from stores and brands across multiple categories. The startup recently received a US$22,000 from Cameroon Angels Network (CAN), unlocking a 3X matching investment of US$66,000 from Catalytic Africa, the co-investment fund established in 2019 by the African Business Angels Network (ABAN) and AfriLabs. Koree has developed a product that lets merchants handle payments in cash, which represents 85 per cent of offline merchant transactions in the region. Koree is used by 10,000 users and 40 store partners and has processed approximately 30,000 transactions worth over US$200,000 since inception.
After Cracking Cameroon, Consumer App Wants to Move to Bigger Markets
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