# Cadana

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cadana

- Industry: Financial Services
- Headquarters: New York, US
- Website: www.cadanapay.com
- Total disclosed funding: $7.1M
- Latest round: Seed (Jun 20, 2024)
- Investors on record: 3

## About

Established in 2021 by Albert Owusu-Asare (CEO), and Ameer Shujjah (CTO), and based in New York, US, Cadana, Inc. is a financial technology company that provides payroll services for global hiring platforms and banks, specifically targeting emerging markets. In June 2024, Cadana, Inc. raised USD 7.4 million in seed funding led by investor Costanoa Ventures, with participation from Better Tomorrow Ventures, and 500 Global. As of June 2024, the company operates in over 32 countries, including Nigeria and Ghana.

The firm’s services include real-time payment processing to local banks, mobile money accounts, and e-wallets. They provide APIs and white-label products that integrate payroll management into existing systems, ensuring compliance with local employment laws and reducing transaction fees. Additionally, Cadana offers multi-currency wallets that allow for various financial transactions such as stock investments and interest-bearing accounts. 

The company intends to use the June 2024 funding to support the advancement and growth of the company's products.

## Funding rounds

- Seed, Jun 20, 2024, $7.1M — 500 Global, Costanoa Ventures, Better Tomorrow Ventures

## Investors

- 500 Global (https://capitalatlas.ai/funds/500-global) — Seed
- Costanoa Ventures (https://capitalatlas.ai/funds/costanoa-ventures) — Seed
- Better Tomorrow Ventures (https://capitalatlas.ai/funds/better-tomorrow-ventures) — Seed