Home Tech Nigerian crypto exchange Busha secures $4.2m seed round for expansion.

Nigerian crypto exchange Busha secures $4.2m seed round for expansion.

by Weddy Thuranira
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Nigerian cryptocurrency exchange Busha , has secured $4.2 million in seed funding to expand across Africa.

The startup has been scaling across Nigeria, and it has now raised a seed round of US$4.2 million to expand its market position across West Africa and other regions of the continent. 

 “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,” said Michael Adeyeri, co-founder and chief executive officer (CEO) at Busha. 

Jump Capital led the round, which included investors such as Cadenza Ventures, Blockwall Capital, CMT Digital, Greenhouse Capital, Raba Capital, and others.

Busha is a cryptocurrency platform that allows users to purchase, trade, and manage their cryptocurrency portfolios through a simple mobile app.

The startup recently launched a new version of its app, which includes features like 50-cent minimum purchases for a more inclusive offering, one-click limit orders, and automated recurring purchases.

“We pride ourselves in being first in the market to introduce tangible innovations such as instant payouts and 24/7 human customer service,” said co-founder and chief product officer Moyo Sodipo. “This funding will empower us to do more faster, improve our security, and take a definitive leadership position in our target markets.” 

“We believe Nigeria and the African continent are one of the most promising places for crypto to make a significant impact in offering financial freedom to millions of individuals,” said Peter Johnson, partner at Jump Capital. “We are excited to work with the Busha team to continue to enhance their market-leading product offering.”

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