Cote d'Ivoire: Ivorian Fintech Cauridor Gets $3.5m for Cross-Border Payment Rails

Cauridor provides payment rails for merchants, banks, telecom operators, and money transfer companies, enabling seamless fund movement across Africa. It supports mobile wallets, bank transfers, and cash pickups through a network of 25,000 agents in Guinea, Senegal, Ivory Coast, Sierra Leone, and Liberia.

In 2022, the company transformed from a consumer-focused remittance platform to a B2B payments provider. By 2024, its total payment volume (TPV) had reached $500 million. Cauridor's localized approach has helped it secure partnerships with major players such as Ria, MoneyGram, and Western Union. With new funding, Cauridor plans to expand into Mali and Nigeria, enhance its infrastructure, and explore blockchain integration to streamline settlements.

Key Takeaways

Cross-border payments in Africa remain costly and inefficient due to fragmented infrastructure and regulatory barriers. Cauridor's approach--combining digital payment rails with agent networks--addresses these gaps, particularly in underserved markets like Guinea and Liberia. The company's strategy differs from competitors like Onafriq and Thunes by focusing on overlooked markets while securing better forex margins for customers. This localized approach has attracted major partners, with MoneyGram switching from competitors to use Cauridor's network. Africa's cross-border payment landscape is evolving, with fintechs increasingly leveraging blockchain and stablecoins for settlements. Cauridor's expansion into Mali and Nigeria, alongside potential blockchain integration, signals a move toward faster, cost-effective transactions. The fintech's growth trajectory underscores investor interest in Africa's digital payments sector. With a Series A round on the horizon, Cauridor is positioning itself as a key player in transforming financial access across the region.