Exclusive: Chaka Secures $1.5M in Pre-Seed Funding to Power Digital Investments for African Businesses

…aims to expand footprints to Ghana and other West African
Markets
July 19, 2021/LSF|PR
Chief Executive Officer, Chaka, Tosin Osibodu. Image Credit: LSF/PR

SEC-Licensed Digital Sub-broker and leading digital investment platform, Chaka Technologies, has raised $1.5M in a pre-seed funding round led by Breyer Capital, premier global venture capital and private equity ‘rm focused on catalysing growth in high-impact tech companies like Spotify and Facebook. Other participants in the round are 4DX Ventures, Golden Palm Investments, Future Africa, Seedstars, and Musha Ventures.

This funding will serve as a catalyst to enable Chaka to continue to power on its mission to enable borderless investments across Africa and deliver digital investments solutions for African businesses.2It will also be used towards the expansion of the Fintech’s footprints in West Africa to reach more retail investors and attract more foreign players to African Capital
Markets.
Commenting on the funding secured, Tosin Osibodu, Co-founder & CEO, Chaka Technologies said “This is indeed a signicant 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 this 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 backed by VCs like Breyer Capital that trust us and are extremely optimistic of the possibilities that exits for Chaka and Africa,” He added.
Also commenting on this feat, Jim Breyer, CEO of Breyer Capital, said ” We are proud to combine efforts with a company that is leveling the investment playing field for Nigerians ( and Africans at large). “We’re confident in the value Chaka provides through its digital tools, and we look forward to playing our part in supporting Chaka’s team on their mission to drive borderless investments in Africa.”
This pre-seed round comes on the heels of Chaka becoming the first start-up to acquire the new digital sub-broker license issued by the Nigeria’s Securities and Exchange Commission (SEC), in line with the regulator’s efforts to safeguard the investing public and accelerate innovation within the sector.
Since Chaka’s launch in 2019, the platform has leveled the barriers of entry for borderless investments in Nigeria by providing customers with complaint access to the capital market . Chaka’s bouquet of products includes a stock trading app for retail investors, Chaka SDK which enables asset managers and financial institutions to other digital investments to their customers and Chaka for business which enables direct business onboarding  and provides powerful trading tools for institutional investors.

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