Sat. Oct 16th, 2021

Chaka Technologies (CT), a digital sub-broker and digital investment platform in Nigeria, has secured $ 1.5 million in pre-seed financing to improve digital investment in Africa.

In a decision aimed at boosting economic transformation in Africa, the licensed firm of the Nigerian Securities And Exchange Commission (SEC) raised funding in a round led by Breyer Capital, a global venture capital and private equity firm. focused on catalyzing the growth of high-impact technology companies.

Chaka is the first Nigerian Fintech to be licensed by the Securities & Exchange Commission of Nigeria (SEC).

Other participants in the round are 4DX Ventures, Golden Palm Investments, Future Africa, Seedstars and Musha Ventures.

Investments without borders in Africa

The funding will serve as a catalyst to enable CT to continue its mission of enabling borderless investments across Africa and providing digital investment solutions for African companies.

Chaka has over 25 years of experience in banking, wealth management, payments, e-commerce, prestigious business markets in Africa and beyond.

Attract more foreign players

It will also be used to expand Fintech’s footprints in West Africa to reach more retail investors and attract more foreign players to African capital markets.

Read also: The UAE is partnering with Nigeria to monitor the illegal gold trade

The investment will also allow the company to hire the best talent and integrate more advanced features into its investment and wealth management solutions.

Commenting on the secured funding, CT co-founder and CEO Tosin Osibodu said the funding was a significant milestone for Chaka.

Chaka raises N617.16 million to finance operations in West African countries ▷ Nigeria News

“We see digital investment as an opportunity to drive economic transformation in Africa and our goal is to use this funding to bring the vision to life. With this capital, we will focus on our goals to build a formidable list of partners and accelerate our expansion into other African markets. This investment also allows us to hire the best talent and integrate more advanced features into our investment and wealth management solutions for companies, ”he said.

He added that the company’s mission remains the same, expressing its enthusiasm for being supported by venture capitalists like Breyer Capital.

In his remark, Breyer Capital CEO Jim Breyer said they were proud to combine the efforts with a company that is equalizing investment conditions for Nigerians and Africans in general.

He expressed confidence in Chaka, promising more support to drive borderless investments in Africa.

“We are confident in the value Chaka provides through its digital tools and look forward to playing our part in supporting its mission to drive borderless investment in Africa,” he said.

Through a press release posted on its official website, Chaka thanked all stakeholders, partners and investors for allowing them to reach the milestone.

“This is a significant milestone for us at Chaka and we would not have been able to get this far without our users, partners, start-ups and a talented and successful team of Chaka Champions,” the press release reads in part.

What you need to know about digital investing

All investments involve risk and the past performance of a financial or security product does not guarantee future results or returns. Keep in mind that while diversification can help spread risk, it does not guarantee any profit or protect against losses in a declining market.

There is always the potential to lose money when investing in stocks or other financial products. Investors should consider their investment goals and risks before investing.

Read also: A UK-based company will allocate $ 100 million to the Nigerian mining sector

Investors should be aware that system response, execution price, speed, liquidity, market data, and account access times are affected by many factors, such as market volatility, order size and type, market conditions, system performance and other factors.

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