Bamboo, a Nigerian brokerage app that lets Africans buy and trade US stocks in real-time has secured a $15 million Series A funding round to accelerate its growth across the African market.
The funding round was led by Greycroft and Tiger Global and also it saw participation from Motley Fool Venture, Chrysalis Capital, Y-Combinator’s Michael Seibel and others.
The platform wants to use the fund as support to scale across new markets in addition to launching more products as part of the fund will be channelled into developing the company’s tech infrastructure to allow for easy withdrawal.
Richmond Bassey, Bamboo’s CEO and co-founder said, “Our goal is simple: we want to give Africans and their asset managers easy, fast and secure access to global investment options that will allow them to earn real returns. We’re building the technology infrastructure powering financial services in Africa such that if you’re investing in the global capital markets from Africa, you’ll be doing so using Bamboo, directly or indirectly.
“We also want to make it seamless for African investors in the diaspora to discover the best investing opportunities on the continent. We’re excited about our work with local regulators so far to make this a reality.”
Alison Lange Engel, Greycroft partner also expressed delight to support the innovative approach that Bamboo team is bringing to market.
– Nairametrics