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Nigerian Tech Startup Bamboo Raises $15 Million Series A Funding

Nigerian Tech Startup Bamboo Raises $15 Million Series A Funding

  • Nigerian brokerage startup, Bamboo has raised $15 million Series A funding to fund its development across Africa
  • The funding was led by Greycroft, Tiger Global and included support from Motley Fool Venture, Chrysalis Capital, and others
  • The new fund will allow the startup to enter Ghana, Kenya, and the South African market

Nigerian fintech startup Bamboo has secured a $15 million Series A funding to promote its tech infrastructure and expand to other African countries.

In a statement that was released to investors on Monday, the company revealed that it plans to put this funding round into ensuring smoother processes and faster withdrawals for customers.

It also added that the funds will help accelerate the growth of the company and help it expand into newer markets in Africa while launching more products to help customers earn strong investment returns and build portfolios.

This round of funding was led by Greycroft and Tiger Global with participation from Motley Fool Ventures, Chrysalis Capital, and Michael Seibel, among others.

While discussing plans for the company, Co-founder and CEO of Bamboo Richmond Bassey said that the company’s next market target is Ghana before scaling to other African countries.

Read also: Apple Joins Facebook in Metaverse Investment

Bassey disclosed that over 50,000 users had joined since the company revealed intentions to launch in neighboring countries. He added that there has also been demand from Kenya and South Africa, so Bamboo will be looking to expand to those countries.

bamboo

He shared that the company has the vision to get 1 million or 2 million Africans to invest over the next 18 months, and it has a great shot at making it happen.

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