Nigerian Crypto Exchange Raises Over $4 Million in Latest Funding Round
A Nigerian crypto exchange, Busha, recently raised over $4 million in a funding round led by Jump Capital.
Busha, a Nigerian cryptocurrency exchange, is reported to have raised a $4.2 million seed funding round recently. These funds, according to the exchange, will be used to expand its operations across Africa. Financial Freedom
According to a report by Disrupt Africa, Jump Capital led the funding round that also featured Cadenza Ventures, Blockwall Capital, CMT Digital, Greenhouse Capital, Raba Capital, and other investors.
In his comments following the announcement, Busha co-founder and CEO Michael Adeyeri is quoted explaining the exchange’s key objective and how the latest funding round helps the company. He said: Our immediate mission is to onboard the next one million Africans into the crypto economy. We have seen the significant difference in financial freedom that crypto can make in the lives of our over 200,000 users, and we are very motivated to extend this to more people on the continent.
The announcement of the capital raise comes after Busha had just launched a revamped version of its app which now enables minimum purchases of as low as 50 cents for a more inclusive offering, one-click limit orders, and automated recurring buys.
Most Promising Place for Crypto
Meanwhile, the report quotes another Busha co-founder, Moyo Sodipo, who lauds the cryptocurrency exchange’s pioneering innovations such as instant payouts and 24/7 customer support. Concerning the latest capital raise, Sodipo said: “This funding will empower us to do more faster, improve our security, and take a definitive leadership position in our target markets.”
Peter Johnson, who is a partner at Jump Capital, said his firm was excited to work with Busha which operates in what he called the “most promising places for crypto to make a significant impact in offering financial freedom to millions of individuals.” Tags in this story Busha cryptocurrency exchange, Financial Freedom, instant payouts, Jump Capital, Michael Adeyeri
What are your thoughts about Busha’s latest capital raise? Tell us what you think in the comments section below. Kenya Central Bank Governor on CBDC: It"s About Getting It Right Rather Than Being First EMERGING MARKETS | 4 days ago Cameroon to Hold Workshop Examining Challenges and Risks of Using Cryptocurrencies EMERGING MARKETS | Nov 15, 2021
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleStablecoin Economy Surges Past $150B, Stablecoins Command Over 50% of Global Crypto Trade Volume Next article2021 Crypto Literacy Report Suggests 96% of Americans Fail to Comprehend Basic Crypto Knowledge Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItDCG Mining Subsidiary Foundry Launches Range of Services for 20 Crypto Staking Networks
Foundry, the Digital Currency Group (DCG) subsidiary and cryptocurrency mining and consulting firm from Rochester, New York announced the launch of a new platform on Wednesday called Foundry Staking. The company says the product currently supports 20 blockchain networks and ... read more.Sotheby’s to Bring Down the Hammer in Ethereum on 2 Iconic Banksy Paintings Twitter Sets up Dedicated Team to Focus on Cryptocurrency and Decentralized Apps Russian Nationalists Prepare Bill to Regulate Cryptocurrency Mining Over 3 Million Customers Can Earn Bitcoin Points Dining at 500 Restaurants via Landry"s Rewards Program