Chaka, the innovative Nigerian fintech platform is making waves in Africa’s investment landscape with its commitment to democratising access to both local and global stock markets.
Built on the vision of offering Nigerians seamless access to invest in dollar assets while allowing international investors to access Nigerian markets, Chaka recently achieved a significant breakthrough by closing a $1.5 million pre-seed funding round.
This round was led by Breyer Capital, with strong support from other notable investors, including 4DX Ventures, Golden Palm Investments, and Future Africa.
The new funding enables Chaka to extend its reach across West Africa, enhance its technology, and deepen partnerships with key financial institutions.
One of Chaka’s defining achievements came with its acquisition of Nigeria’s first digital sub-broker license from the Securities and Exchange Commission (SEC), marking a pioneering moment for Nigerian fintech. This historic license allows Chaka to directly offer regulated access to U.S. and Nigerian stock markets, setting an important regulatory precedent for other investment-tech platforms in the region. This breakthrough reflects Chaka’s dedication to fostering transparency, compliance, and customer protection, strengthening user trust in Nigeria’s burgeoning digital investment landscape.
A key driver of Chaka’s success is its thoughtfully designed, user-centred platform, led by Kingsley Ukeje, Lead Product Designer, and Olaolu Ajose, Chief Technical Officer. Kingsley’s design innovations, such as the Smart Invest feature, have significantly enhanced user engagement and accessibility, allowing emerging investors to navigate the platform with confidence.
His redesign efforts not only enhanced the platform’s accessibility but also contributed significantly to the platform’s metrics, leading to a dramatic 100 per cent increase in users, from 32,000 to over 76,000, and boosting investment volume from $1.3 million to more than $4 million within a short period. their contributions were crucial in achieving both the recent funding success and the groundbreaking SEC license, which solidified Chaka’s standing as a trusted platform for both Nigerian and foreign investments.
With its newfound capital, Chaka plans to scale its operations across West Africa and beyond. The company’s growth strategy is centred on removing barriers to investment and leveraging technology to build secure and user-friendly financial products. As Chaka looks to expand into Ghana and other West African markets, it is also prioritizing partnerships with major financial institutions, including apex institutions, to enhance its offerings and ensure compliance with regulatory standards.
The impact of Chaka’s success extends beyond financial metrics, shaping a new narrative for investment accessibility in Africa. By opening up the world of stocks and ETFs to Nigerians through a regulated, transparent platform, Chaka is not only setting a high standard in the African investment-tech ecosystem but also empowering a new generation of investors.
With its focus on accessibility, compliance, and innovative technology, Chaka stands poised to continue driving positive change in Nigeria’s — and Africa’s —financial sector, inspiring more people to participate in wealth-building opportunities previously out of reach.
