CowryWise wins funding from New York based K50 Venture fund


Fintech startup, CowryWise has been selected as one of the 50 winners of Kairos K50 Tech Summit held late November in New York.  The summit is an initiative of New York-based Kairos, an early stage venture capital firm.

Kairos K50 is held annually to identify transformative companies based in different parts of the world. It provides thousands of startups from around the world an opportunity to showcase how they are sustainably innovating around some of the world’s biggest problems.

Of the 2,500 early-stage startups from 65 countries, 50 startups have been selected to join the K50, Nigeria’s CowryWise making the cut. This fete comes a little over a year since the company started its operations.

The CowryWise app makes saving easier for the average person. The app automatically saves users’ money over a user-defined amount of time, the savings earning them interest over time. CowryWise makes low-risk investments such as in Treasury Bonds and bills in order to earn users the interest.

CowryWIse has had a good year, having raised $120,000 from joining YCombinator incubator in July, and raising $50,000 from the early-stage venture firm, Microtraction.

Its selection into K50’s cohort provides the founders with the opportunity to be mentored by industry bigwigs such as Amazon’s CTO, Werner Vogels and former CIA Director, Mike Hayden.