Cadana, a leading fintech startup, has just announced a significant milestone with the closing of a $7.1 million seed funding round led by Costanoa Ventures, alongside Better Tomorrow Ventures and 500 Startups. This funding is set to propel Cadana’s mission to revolutionize payroll services catering to international hiring platforms and financial institutions across emerging markets.
CEO Albert Owusu-Asare expressed his enthusiasm about the funding, emphasizing Cadana’s commitment to tackling specific challenges in remittances and payroll management. “We’re focusing on enhancing our local infrastructure, integrating payment systems, ensuring compliance, and optimizing benefits to better serve our customers,” Owusu-Asare stated.
Founded in 2021 by Owusu-Asare and CTO Ameer Shujjah, Cadana specializes in streamlining payroll processes for diverse clients, including talent marketplaces and staffing firms. Their innovative APIs and white-label solutions facilitate seamless payment processing and payroll management across 32+ emerging markets, with a strong focus on Nigeria and Ghana.
Cadana’s mission is to empower African talent and professionals in emerging markets by providing easier access to global job opportunities. This funding round will enable Cadana to further expand its footprint and enhance its service offerings, making global employment more accessible and efficient for all.
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