# Kwara

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

- Industry: Financial Services
- Headquarters: Nairobi, Kenya
- Website: www.kwara.com
- Total disclosed funding: $7M
- Latest round: Seed (Jan 16, 2023)
- Investors on record: 13

## About

Based in Nairobi, Kenya, and founded in 2018 by Cynthia Wandia, and David Hwan, Kwaduara Limited, d.b.a. Kwara is a provider of a digital banking platform that enables unbanked and underbanked individuals through the use of web and a mobile application. In December 2021, Kwaduara Limited raised USD 4 million in seed funding led by Breega, with participation from other Do Good Invest, DOB Equity, FINCA Ventures, Future Africa, Globivest, Launch Africa Ventures, New General Market Partners, Norrsken Impact Accelerator, Raba Capital, SAMURAI INCUBATE, and SB Investment Advisers. As of December 2021, co-founder Cynthia Wandia is the CEO of Kwaduara Limited.

Kwaduara Limited’s product line includes Kwara core, Kwara connect, and Kwara open. Kwara core is the company’s admin platform that allows customers to integrate tools to drive operational efficiency and automation at the cooperative staff level. Kwara connect is the online and mobile banking platform that connects customers’ members digitally to enable transactions from different locations.  Kwara open is the restful API that enables customers to customize and extend their savings and credit co-operative society (SACCOs) preferences to ensure a future-proof solution.

Kwaduara Limited generates revenue through its software-as-a-service package where cooperative clients pay for their usage and get a single end-to-end solution.

Kwaduara Limited plans to use its proceeds from December 2021 funding to develop its app to enable credit unions in emerging markets.

## Funding rounds

- Seed, Jan 16, 2023, $3M — Globivest, DOB Equity, Base Capital
- Seed, Nov 1, 2021, $4M — Globivest, Samurai Incubate, DOB Equity, Breega, SB Investment Advisers, FINCA Ventures, Raba, New General Market Partners, Future Africa, Launch Africa Ventures, Norrsken Impact Accelerator, Do Good Invest

## Investors

- Globivest (https://capitalatlas.ai/funds/globivest) — Seed
- Samurai Incubate (https://capitalatlas.ai/funds/samurai-incubate) — Seed
- DOB Equity (https://capitalatlas.ai/funds/dob-equity) — Seed
- Breega (https://capitalatlas.ai/funds/breega) — Seed
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Seed
- FINCA Ventures (https://capitalatlas.ai/funds/finca-ventures) — Seed
- Raba (https://capitalatlas.ai/funds/raba) — Seed
- New General Market Partners — Seed
- Future Africa — Seed
- Launch Africa Ventures (https://capitalatlas.ai/funds/launch-africa-ventures) — Seed
- Norrsken Impact Accelerator — Seed
- Do Good Invest (https://capitalatlas.ai/funds/do-good-invest) — Seed
- Base Capital (https://capitalatlas.ai/funds/base-capital) — Seed