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Cowrywise raises $3 million in pre-Series A round


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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 ....

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