The United States-based enterprise capital (VC) agency, QED Investors, lately led an funding spherical that raised greater than $50 million for the Nigerian fintech Teamapt. The funding, in addition to the VC agency’s hiring of personnel tasked with spearheading its investments in Africa, appear to level to QED Investors’ newfound dedication in the direction of the continent.
Teamapt’s Pre-Series C
The fintech-focused enterprise capital agency, QED Investors, lately turned an investor in a Nigerian company, Teamapt, a startup that specializes in offering funds and banking platforms. According to a Techcrunch report, QED led an funding spherical that reportedly raised greater than $50 million for Teamapt.
Besides QED Investors, the opposite members in the funding spherical — which the Techcrunch report has known as pre-Series C — have been Novastar Ventures, Lightrock, and BII. The three all turned traders in the fintech agency after they participated in Teamapt’s Series B spherical.
Meanwhile, in his response to assertions the market downturn had disturbed his company’s fundraising plans, Teamapt’s Tosin Eniolorunda reportedly mentioned:
We all the time strategy our fundraising effort opportunistically and need to make sure that the market context, money wants of the business and investor profile match our strategic progress views. Given the overarching cautious market setting, we weren’t in lively fundraising mode. As a worthwhile company, we didn’t want the money, however we have been glad to take a possibility so as to add a brand new high-profile investor.
For QED Investors, which reportedly has invested in 180+ plus corporations, the funding in Africa is the ultimate piece of the puzzle for a company that’s in search of to develop into a “global fintech-specialist VC firm.”
To underline the US-based VC agency’s dedication to Africa, the report notes that QED Investors has already employed Gbenga Ajayi and Chidinma Iwueke to spearhead its investments on the continent.
Register your electronic mail right here to get a weekly replace on African information despatched to your inbox:
What are your ideas on this story? Let us know what you assume in the feedback part beneath.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational functions solely. It just isn’t a direct provide or solicitation of a proposal to purchase or promote, or a advice or endorsement of any merchandise, companies, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the company nor the creator is accountable, straight or not directly, for any harm or loss induced or alleged to be brought on by or in reference to using or reliance on any content material, items or companies talked about in this text.
The post US Venture Capital Firm Leads New Investment in Nigerian Startup Teamapt – Fintech BitcoinLinux appeared first on BitcoinLinux.
