Yaoundé - 28 May 2022 -

Pan-African Fintech CinetPay raises XAF1.3 bln to boost operations

Pan-African Fintech CinetPay raises XAF1.3 bln to boost operations
  • Comments   -   Thursday, 13 January 2022 10:40

(Business in Cameroon) - PanAfrican fintech CinetPay announces it has raised US$2.4 million from 4DX Ventures and Flutterwave, two pan-African venture capital firms. The fintech aims to boost sales and marketing efforts in nine West and Central African countries where it has had 350 vendors, since 2016. Those countries are namely Cameroon, Côte d’Ivoire, Burkina Faso, Benin, Mali, Togo, Senegal, the Democratic Republic of Congo, and Guinea Conakry. 

For a first institutional investment, we couldn’t have asked for two better partners than 4DX Ventures and Flutterwave. We’ve watched firsthand as thousands of merchants waste crucial time, even up to 6 months, getting their payment systems in order. Now we’ve got the resources to market and sell our optimal solution across the region and we’re excited to ensure that all businesses in our region never miss a sale again. We have selected highly strategic partners as investors and are excited about the immediate next steps we take together in terms of simplifying and improving digital payments in Francophone Africa,”  said Idriss Marcial Monthe, Co-founder of CinetPay.

Thanks to its mobile and computer apps, CinetPay allows its clients to accept payments through  Mastercard, Visa, and the main local payment means in its nine African markets (the payment means are notably Mpesa, MTN Mobile Money, and Orange Money). Its digital platform is used by e-merchants, utility companies, insurance companies, and schools for online payment collections. 


The international air traffic in Cameroon fell by 62.04% from 868,788 to 357,564 passengers between 2019 and 2020. Domestic traffic also followed the same...
Emile Parfait Simb, the promoter of Global Investment Trading (better known as Liyeplimal), which specializes in cryptocurrency investments, was arrested...
The Cameroonian government announced, via its Ministry of public work, (Mintp) that it has finally completed the fundraising for the construction of 14...
The British consulting firm Euro Petroleum Consultants (EPC), which specializes in petroleum and petrochemical projects, has just signed a "Project...

Mags frontpage

Business in Cameroon n110: April 2022

Covid-19, war in Europe: Some Cameroonian firms will suffer

Albert Zeufack: “Today, the most important market is in Asia”

Investir au Cameroun n120: Avril 2022

Covid-19, guerre en Europe : des entreprises camerounaises vont souffrir

Albert Zeufack: « Le marché le plus important aujourd’hui, c’est l’Asie »