Nigerian cryptocurrency exchange has raised more than US$4 million in its latest funding round – Emerging Markets Bitcoin News
The Nigerian cryptocurrency exchange Busha recently raised more than US$4 million in a financing round led by Jump Capital.
According to reports, the Nigerian cryptocurrency exchange Busha recently raised $4.2 million in seed funding. According to the exchange, the funds will be used to expand its business in Africa.
According to a report Initiated by Disrupt Africa, Jump Capital led this round of financing, which also includes Cadenza Ventures, Blockwall Capital, CMT Digital, Greenhouse Capital, Raba Capital and other investors.
In the comments after the announcement, Busha co-founder and CEO Michael Adeyeri was quoted to explain the main goals of the exchange and how the latest round of financing helped the company. He said:
Our immediate task is to get the next 1 million Africans to join the crypto economy. We have seen that encryption technology can bring tremendous financial freedom to the lives of our more than 200,000 users, and we are very motivated to expand it to more people on the African continent.
The financing was announced after Busha just launched an improved version of its app, which now allows a minimum purchase price as low as 50 cents for more inclusive products, one-click limit orders and automatic repeat purchases.
The most promising place for encryption
At the same time, the report quoted another Busha co-founder, Moyo Sodipo, who praised the pioneering innovations of cryptocurrency exchanges, such as instant payment and 24/7 customer support. Regarding the recent financing, Sodipo said: “This funding will enable us to do faster, improve our security, and occupy a clear leadership position in our target market.”
Peter Johnson, a partner at Jump Capital, stated that his company is pleased to work with Busha, which works in what he calls “the most promising field of cryptocurrency, which has a significant impact on providing financial freedom for millions of people.” “.
What is your opinion on Busha’s latest financing? Tell us what you think in the comments section below.
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