Angolan fintech CYTO secures $40,000 in angel funding from ABAN and timbuktoo to expand financial automation platform.
Amount Raised
$40,000
Round Type
Angel
LuandaFinancial ServicesSoftwareFintechInvestors
Description
CYTO, an Angolan financial technology startup, has secured $40,000 in angel funding through Catalytic Africa's co-investment programme. The round combines $20,000 from investors affiliated with the African Business Angel Network (ABAN) and a matching $20,000 from timbuktoo, a pan-African innovation initiative supported by the UNDP. The transaction was facilitated by the Cape Verde Business Angels Association (ABAC). CYTO's platform automates financial processes including invoice management, tax reporting, and transaction reconciliation.
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