Fintech startup Chaka raises US$1.5m pre-seed funding to expand its footprint

NIGERIA – Chaka, a fintech startup, has raised a US$1.5 million pre-seed funding round as it aims to expand its footprint to Ghana and other West African markets. The funding round was led by Breyer Capital and also featuring 4DX Ventures, Golden Palm Investments, Future Africa, Seedstars, and Musha Ventures. The funding will enable Chaka to continue on its mission to enable borderless investments across Africa and deliver digital investments solutions for African businesses. It will also be used towards the expansion of the startup’s footprint in West Africa to…

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Fintech startup Chaka receives license to operate its digital platform for buying and selling stocks

NIGERIA – Chaka, a fintech startup, has received a license from Nigeria’s Securities and Exchange Commission (SEC) to operate its digital platform for buying and selling stocks after months of uncertainty regarding regulations. Chaka becomes the first to acquire the digital sub-broker license introduced by SEC in April of this year. As part of a major amendment to its Consolidated Rules and Regulations, SEC recognised sub-brokers who use digital platforms to serve multiple brokers. Tosin Osibodu, the startup’s CEO, said that the acquisition took a tremendous amount of effort and…

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