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Nigeria’s Scorefam Secures $25 Million Capital Commitment to expand its reach

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Scorefam,a Nigerian decentralized sports gaming platform  has  secured a  $25 million capital commitment from  Bahamas-based investment firm Global Emerging Markets  (“GEM”) digital limited.

  This funding commitment will allow Scorefam to expand its reach, build more innovative features and continue to acquire highly qualified personnel. 

Scorefam COO and Co-founder, Sofowora Babasola states “this partnership is an important milestone in the future growth of the company. The funds will help us in actualizing our mission to merge the crypto and sports gaming worlds by providing monetary benefits to sports lovers far and wide. We are truly excited and eager for everyone to be a part of what happens next.”

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 The funding is expected to help provide the financial flexibility to help execute strategic development plans. These plans include driving towards launching two additional planned features namely the Flexible and Multiflex Gaming, continuing to enhance our current flagship feature – Locked gaming, commencing work on the Scorefam NFT and NFT marketplace, and executing several other exclusive sub-projects.

Additionally, with the commitment capital, Scorefam aims to continue  acquisition of unique exceptional talent from across the globe.The intends to create a space for the adoption of cryptocurrency around the world through sports gaming. By providing a space for earning passively from the world’s greatest pastime, we believe that the developments the capital will facilitate will prove to be extremely lucrative and beneficial for crypto onboarding.

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“A tireless mind, unwavering resolve, and a result-oriented approach are the pillars that hold up our organization. It is for this reason that I am glad to reach this milestone with our remarkable team and a revered organization like GEM. This funding is the first step to reaching our goals, surpassing them, and discovering new exciting ideas along the way. With a team like ours backed like GEM, we’re certain to face every challenge head-on and come out victorious” CEO and founder Simisoluwa Adeyemo.

 Global Emerging Markets (“GEM”) is a $3.4 billion alternative investment group based in Paris, New York, and the Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 530 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity pool. The family of funds and investment vehicles provides GEM and its partners with exposure to Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs), and select venture investments.

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Milcah Lukhanyu
Milcah Lukhanyuhttps://techmoran.com
I cover tech news across Africa. Drop me an email at [email protected]

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