Cameroon-based Diool said to close $3.5m funding round

Diool, which helps small merchants in Africa accept payments, has reportedly collected $3.5m in funding to help it grow its operations.

The capital was supplied by the Lundin family, as well as unnamed existing backers, according to a report from Disrupt Africa.

Currently, the FinTech is focused on its home country of Cameroon and is looking to bolster its position in the market. Following this, the FinTech hopes it can expand into other countries.

The company helps small businesses to monitor all of their shop transactions through a single app, collect payments from customers, pay suppliers, earn revenue and pay bills.

With the close of the round, the company has raised a total of $4.6m in equity.

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