Nigerian investing platform, Bamboo raises $15 million in Series A funding
Greycroft and Tiger Global, two American venture capital firms, led a $15 million Series A funding round for Nigerian investment platform Bamboo, which allows Nigerians to buy and sell US equities in real time via their mobile computers or phones.
Motley Fool Ventures, Saison Capital, Chrysalis Capital, and Y-Michael Combinator’s Seibel all participated in the round.
Bamboo, founded in 2020 by CEO Richmond Bassey and COO Yanmo Omorogbe, has quickly gained traction among retail investors in Nigeria, with over 300,000 accounts. It provides users with access to all stocks listed on US stock exchanges.
“Our goal is simple: we want to provide Africans and their asset managers with quick, safe access to global investment opportunities that will allow them to make meaningful returns,” Bassey said.
“Bamboo is empowering Africans to build wealth by developing an investing platform that benefits both seasoned and novice investors.” Greycroft Partner Alison Lange Engel said of the investment, “We are happy to support the Bamboo team’s creative, user-first approach to the market.”
Bamboo intends to use the new funds to accelerate its growth by doubling down on entering new markets and developing new products.
