Ivorian fintech startup Cauridor, which is utilising a hybrid approach to payments that blends digital infrastructure with cash networks, has raised a US$3.5 million seed round of funding to boost its growth, strengthen its payment rails, and move into new markets.
Cauridor enables payments via more than 25,000 agents across Guinea, Senegal, Ivory Coast, Sierra Leone, and Liberia, with its technology facilitating cash pickups, bank transfers, and mobile wallets.
“We realised early on that the rails in Francophone Africa were almost non-existent. So we had to go in and start building payment rails in the region since the payments there were fragmented,” said Oumar Rafiou Barry, co-founder of Cauridor.
The company’s payment rails division now generates over 90 per cent of its revenue, with Cauridor reaching a US$500 million total payment volume (TPV) in 2024. Now, to boost its growth, fortify its payment rails, and enter new markets, it has raised US$3.5 million in seed funding in a round led by Oui Capital, and also featuring Rally Cap, BKR Capital, and various angel investors.
The funding will accelerate Cauridor’s expansion into markets such as Mali and Nigeria.
“We are preparing for a Series A round and exploring blockchain integration to streamline settlements and tap into the growing adoption of stablecoins in Africa’s cross-border payment space,” Barry said.
