Two young startupers, Justin Lock from Cameroon and Bernat Serra Deola from Spain, have developed a dematerialized financial services platform called Kamix. It is a commission-free money transfer application between Europe and Cameroon. These founders say the following: “we started from the premise that Africa faces the highest money transfer fees in the world. This causes the continent to lose about 1.9 billion dollars a year. Kamix’s goal is to return money from Africans to Africans.”
The Kamix application is not only a mobile money tool, it is also an interface for selling bitcoins or cryptographic currency (around 0.94 euros per unit) through Mobile Money or bank deposit. The Kamix Application also offers the connection through an instant messenger to communicate with contacts on its network. There is also a Marketplace where you can buy or sell items to other members of the community. The startup has already raised a fund of 225,000 euros in 2019. With the ambition of its promoters, the Kamix application targets nearly 25 million users and 18% of the money transfer market in Cameroon by 2022.
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