Proparco Backs Cauridor in Funding Push to Scale Africa Remittance Infrastructure
The funding will support Cauridor in strengthening its operational and technical capacities, notably through the expansion of its engineering, operations, and commercial teams, and will accelerate the company's geographic expansion into West and Central Africa.
Remittances constitute a significant source of external financing for many African economies and play a key role in supporting household consumption and financial resilience. They contribute to reducing poverty and strengthening financial inclusion across several African countries.
Founded in 2022 by Guinean entrepreneurs Oumar Barry and Abdoulaye Bah, Cauridor is building payment infrastructure for Africa to make cross-border transactions cheaper, faster, and more reliable by connecting global senders to last-mile delivery.
By facilitating integration between the various actors in the payments ecosystem, Cauridor improves the efficiency of remittance flows into Africa, particularly the “last mile” segment, by connecting international money transfer operators such as Western Union, RIA, Taptap Send, Sendwave and MoneyGram to payment networks, including mobile money operators, banks, and cash agent networks.
This investment brings Cauridor’s total funding to date to USD 13 million, as the company works toward closing its Series A round by the end of 2026. The funding will support Cauridor in strengthening its operational and technical capacities, notably through the expansion of its engineering, operations, and commercial teams, and will accelerate the company’s geographic expansion into West and Central Africa.
“Proparco is pleased to support this transaction, which is fully aligned with its mandate to promote financial inclusion, digital transformation and private sector development in emerging economies, and to foster the emergence of scalable digital infrastructure serving underserved populations.”
– Djalal Khimdjee, Deputy CEO, Proparco
“The support of Proparco marks a significant milestone for Cauridor. Their backing brings not just capital, but the networks, expertise, and long term conviction that will be instrumental as we deepen our infrastructure and expand into new markets.”
– Dr Oumar Rafiou Barry, CEO & Co-Founder, Cauridor
This investment is made under the EU-backed Choose Africa VC program with support from the European Union and the European Fund for Sustainable Development Plus (EFSD+). By improving access to finance for early-stage companies, the program fosters entrepreneurship, innovation and job creation in Africa, contributing to the EU’s Global Gateway strategy and the Team Europe Initiative IYBA.
