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FUNDING | Canza Finance Raises $2.3 Million to Expand Baki, its African DeFi Platform for Foreign Exchange
Canza Finance, a Web3 neobank focused on facilitating cross-border payments for African startups, has announced the conclusion of a strategic funding round raising $2.3 million.
According to Canza, the proceeds from the funding round will be utilized by the company to obtain licenses from various financial regulators across Africa and establish the groundwork for its innovative decentralized finance (DeFi) platform for foreign exchange known as Baki.
“We aim to secure a Money Services Business (MSB) license in the United States, obtain a Foreign Exchange (FX) license in Nigeria, and acquire three crucial Virtual Asset Licenses from the Financial Service Commission of Mauritius.”