Diool, Cameroonian FinTech startup, has raised $3.5m.
The funding round was headed by Lundin Group and other current investors.
The funding will be used in expanding in Cameroon and gradually expanding globally.
In 2015, Diool began as a prepaid mobile project, providing smaller businesses a platform to market prepaid recharges to their customers from a single app,
But gradually pivoted into financial services consolidation.
After fully realizing transaction correspondence and financial services connectivity was the major hurdle of its target users.
In 2015, the startup raised $600k, $250k in 2018 and $1.2m in 2020 .
The business has recently signed up more than 2,000 retailers and has transacted over $120m.
The startup has integrated with all of Cameroon’s mobile money providers, and a collaboration with Societe Generale, a French global investment bank.