Futa Streamlines Money Transfers in Cameroon

By : Adoni Conrad Quenum

Date : mercredi, 17 avril 2024 16:21

After the failure of their first startup, two tech entrepreneurs decided to embark on a new venture. They turned to financial technologies, a popular segment on the continent. Then Futa was born. 

Futa, a fintech solution developed by a Cameroonian startup based in Douala, enables users to send and receive money via mobile money, as well as pay for airtime and subscribe to telecom bundles. Founded in 2022 by Grace Jerolgan and Daniel Dang, the startup sees itself as more than just a payment app.

Our goal is to build a modern bank for the modern African, enabling even a farmer in the remotest village to securely send and receive money, access loans, and even investment opportunities, with or without internet access,” the startup explains.

Currently, the app is available exclusively on Android, boasting over 5,000 downloads. For iOS users, access is provided through the web version of Futa. Users simply need to click on the ‘Install’ pop-up and follow the steps. This process installs a shortcut to the web app on the home screen, allowing users to use Futa just like any other app.

Once users register and create an account with their name, city, and phone number, they gain access to various services, including sending and receiving funds and purchasing plans. Notably, Futa enables users to manage multiple mobile money accounts from their dashboard. The fintech charges a fee ranging from 0 to 1.5%, depending on the type of transaction.

Futa reports having over 4,000 users, with more than 24,300 transactions processed through the app to date.

Adoni Conrad Quenum


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