2 years ago
After raising $1.65 cardinal via a pre-seed extension, Bitmama, a Nigeria-based blockchain startup, has present closed its pre-seed backing circular astatine $2 million, a study has said. Leading the backing circular were 2 Africa-focused task superior firms: Unicorn Growth Capital and Launch Africa.
New Funding to Help Bitmama Scale Up Crypto Use Cases successful Africa
A Nigeria-based blockchain startup, Bitmama, precocious closed its pre-seed backing circular astatine $2 cardinal aft it added $1.65 cardinal to the $350,000 that was raised successful October past year. According to a Techcrunch report, the backing circular was led by 2 Africa-focused task superior (VC) firms, namely, Unicorn Growth Capital and Launch Africa.
Also participating successful the fundraise were existing and caller investors specified arsenic Adaverse, Flori Ventures, Tekedia Capital, Greenhouse Capital, ODBA, Five35 Ventures, Chrysalis Capital, Enrich Africa, Thrive Africa, and Angellist Ventures. Angel investors that participated successful the circular see Rene Reinsberg, Marek Olszewski, and Honey Ogundeyi.
According to the report, the blockchain startup volition usage the funds raised to bolster its squad arsenic good arsenic to integrate its merchandise offerings. The funds volition further beryllium utilized to assistance Bitmama standard up usage cases for cryptocurrency connected the African continent.
Buying and Selling Crypto connected Bitmama
In remarks pursuing the announcement, Ruth Iselema, a laminitis and the main enforcement serviceman astatine Bitmama, said:
We started Bitmama to marque it casual for anyone crossed the African continent to bargain and merchantability cryptocurrency. But arsenic clip passed, we saw a mates of usage cases we could employment this exertion to solve.
As per the report, immoderate of the cryptocurrency usage cases identified by Bitamama see the acquisition of airtime oregon paying for utilities utilizing crypto. Also, to assistance tiny businesses affected by overseas speech restrictions, the startup said it has availed “virtual dollar cards for Nigerians to marque planetary purchases.”
Meanwhile, Iselema is besides quoted successful the study suggesting that Bitmama is readying to present a “couple of innovative products” which volition beryllium the archetypal successful the market.
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