Firm secures $1.5m pre-seed funding to enhance digital investment in Africa
To boost economic transformation in Africa, Nigeria’s Securities And Exchange Commission (SEC)-licensed digital sub-broker and digital investment platform, Chaka Technologies (CT), has raised $1.5 million in a pre-seed funding round led by Breyer Capital, a premier global venture capital and private equity firm focused on catalysing growth in high-impact tech companies.
The funding will serve as a catalyst that will enable CT to continue to power on its mission to enable borderless investments across Africa and deliver digital investment solutions for African businesses.
It will also be used towards the expansion of Fintech’s footprints in West Africa to reach more retail investors and attract more foreign players to African Capital Markets.
Commenting on the secured funding, Co-founder and CEO of CT, Tosin Osibodu, said: “This is indeed a significant milestone for us at Chaka. We see digital investments as an opportunity to boost 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 roster of formidable partners and accelerate our expansion to other markets within Africa. This investment also enables us to hire top talent and integrate more advanced functionalities into our investment and wealth management solutions for businesses.
“Our mission remains the same and we are excited to be supported by Venture Capitalists as Breyer Capital that trusts us and are extremely optimistic of the possibilities that exist for Chaka and Africa.”
In his remark, CEO of Breyer Capital, Jim Breyer, said: “We are proud to combine efforts with a company that is levelling the investment playing field for Nigerians and Africans at large. We are confident in the value Chaka provides through its digital tools, and we look forward to playing our part in supporting their mission to drive borderless investments in Africa.”
Other participants in the round are 4DX Ventures, Golden Palm Investments, Future Africa, Seedstars, and Musha Ventures.
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