US-Senegalese fintech firm raises first round of funding
American and Senegalese fintech company Outsource Monetic Group officially closed its pre-seed fundraising round with startup accelerator company 500 Global.
The fintech also announced the launch of the pilot phase, in Senegal and Côte d’Ivoire, of its private ATM network branded KaliSpot™
KaliSpot™ will be the first independent ATM operator in Francophone West and Central Africa. The company develops an automated and omnichannel infrastructure of inclusive financial service points in a proprietary physical (ATM and ITM) and digital (mobile application) network allowing customers of any bank, mobile money, or fintech to have 24/7 access to their money and innovative value-added services.
KaliSpot™ offers digital financial service providers an integration into its physical infrastructure to expand their footprint and customer experience in the region without having to invest CAPEX in a distribution network.
Outsource Monetic Group Founder Mika Diol said, “We are excited to bring our transformative vision of financial inclusion and PhyGital (physical and digital) infrastructure to Francophone West Africa.”
He added that partnering with 500 Global and other collaborators proved that there is a “great interest in a platform that can bridge the current gap between digital and physical financial services in an innovative, integrated, and inclusive way. We are proud to be that bridge.”
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