Nigeria investtech Chaka secures $1.5M pre-seed round


Chaka, a Nigeria investment platform has raised $1.5 million in a pre-seed round to power more digital investments for businesses across Africa in a round led by Breyer Capital (a global VC firm focused on catalyzing growth on high-impact companies such as Facebook, Spotify, and Chaka). Other startups that took part in the raise are Future Africa, 4DX Ventures, Musha Ventures, Golden Palm Investments, and Seedstars.

Tosin Osibodu launched Chaka in 2019 to enable every person or business to access borderless digital investments and other wealth management opportunities. Nigerians on the platform have access to over 10,000 stocks and other ETFs trading on both local and foreign capital markets.

Chaka recently announced the acquisition of the first SEC fintech license and TechCrunch points out that the startups’ assets are registered with the Nigerian Stock Exchange, Central Securities Clearing System, and is under regulation from the Securities Exchange Commission of Nigeria. Dollar assets are regulated by FINRA, U.S., and the U.S. SEC.

Africa has seen a rise in investment startups. In June 2020, South Africa startup Merge another app or web-based platform also received 100K funding from Platform Capital, a Nigeria VC firm.

The post Nigeria investtech Chaka secures $1.5M pre-seed round appeared first on Tech In Africa.


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