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Nigeria's Cowrywise secures licence from the SEC techcabal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techcabal.com Daily Mail and Mail on Sunday newspapers.
Cowrywise, a Nigerian fintech startup that offers digital wealth management and financial planning solutions, has raised $3 million in pre-Series A funding. Quona Capital led the round as Tsadik Foundation, Gumroad CEO Sahil Lavingia, and a syndicate of Nigerian angel investors locally and in the diaspora participated. The company previously raised more than $500,000 through a combination of equity financing and grants. The idea for Cowrywise came when CEO Razaq Ahmed was an investment analyst with Meristem covering equities and making recommendations to retail and wealth management clients. He noticed that existing investment management firms in the country focused on the top 1 percent. They couldn’t scale investment products to millions of Nigerians primarily due to their restricting size. ....
Share this article Nigerian wealth management startup, Cowrywise, has raised $3 million in a funding round led by Quona capital. Cowrywise co-founders, Edward Popoola and Razaq Ahmed. Cowrywise, a Nigerian wealth management app that helps users get better at saving and investing their money, has raised $3 million. The pre-Series A funding round was led by Quona capital. Other participants in the round are Sahil Lavingia, Tsadik Foundation, and a syndicate of Nigerian angels. Founded in 2017 by Edward Popoola and Razaq Ahmed, Cowrywise has grown from launching with a savings feature to providing several investment opportunities to users in Nigeria. The company aims to meet a demand for capital preservation and wealth building as the Nigerian economy contracts. Traditional wealth management firms want big tickets only, leaving a market of tens of millions of small and medium earners hanging. This divide has allowed digital players, who understand how small su ....
Nigeria’s Cowrywise raises $3M pre-Series A to scale its wealth management platform Cowrywise, a Nigerian fintech startup that offers digital wealth management and financial planning solutions, has raised $3 million in pre-Series A funding. Quona Capital led the round as Tsadik Foundation, Gumroad CEO Sahil Lavingia, and a syndicate of Nigerian angel investors locally and in the diaspora participated. The company previously raised more than $500,000 through a combination of equity financing and grants. The idea for Cowrywise came when CEO Razaq Ahmed was an investment analyst with Meristem covering equities and making recommendations to retail and wealth management clients. He noticed that existing investment management firms in the country focused on the top 1 percent. They couldn’t scale investment products to millions of Nigerians primarily due to their restricting size. ....