In recent years, the Silicon Mountain region in Cameroon has been rapidly growing as a hub for innovation and entrepreneurship. The region has seen a surge in startup activity, with many new businesses emerging and existing ones expanding. This growth has been fueled by a number of factors, including government support, access to funding, and a growing pool of talent.

In the last quarter, three startups in the Silicon Mountain region received funding that will help them take their businesses to the next level. Buyam, a marketplace startup, received $10,000 in funding from SHC 86 Ventures. Nkwa, a fintech startup, received $15,000 in funding from Cameroon Angel Network. Koree, another fintech startup, received €20,000 in funding.

The funding that these startups received is important not just for the companies themselves, but also for the ecosystem as a whole. It demonstrates that there is a growing interest in investing in startups in the Silicon Mountain region, and that there is potential for these businesses to grow and succeed.

For Buyam, the funding will help them to expand their operations and reach more customers. The platform already has a strong presence in Cameroon, but with the additional funding, they will be able to scale their business and potentially expand into other markets. This will not only benefit Buyam, but also the many small businesses and entrepreneurs who use the platform to sell their products and services. Since launch, Buyam has on-boarded over 5,000 registered vendors who have listed over 30,000 of their in-stock inventories. The start-up is now seeking to grow these numbers in the next 12 months to over 10,000 registered vendors.

Nkwa, the fintech startup, is also poised for growth with the funding they received. The platform provides financial services to underserved communities in Cameroon, and the additional funding will allow them to reach even more people. This is particularly important given the challenges that many people in Cameroon face in accessing financial services. Nkwa promotes financial inclusion through promoting a culture of saving to meet target financial goals through its mobile app. The fintech has so far signed up over 12,000 users – of which about half are active every single month – and has assisted its users save money worth 2 billion francs CFA towards buying work equipment, paying off debts or taking vacation.

Finally, Koree, the fintech startup that received €20,000 in funding, will be able to further develop their platform and improve the user experience for their customers. The platform is designed to help people save money and manage their finances more effectively, and with the additional funding, they will be able to make it even more user-friendly and accessible. The seed funding, which is part of CAN’s first quarter investment plan, will enable Koree to kick-start operations in Cameroon. It is to be noted that Koree, which runs dual mobile applications Koree and Koree Pro, already has operations in Côte d’Ivoire.

The recent funding that these startups received is a clear indication of the importance, value, and growth potential of the startup ecosystem in the Silicon Mountain region. With continued support and investment, there is no doubt that the region will continue to produce innovative and successful businesses that will make a positive impact on Cameroon’s economy and society.

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