A licensed digital Sub-broker and leading digital investment platform, Chaka Technologies, has raised $1.5 million in a pre-seed funding round led by Breyer Capital, premier global venture capital and private equity firm focused on catalysing growth in high-impact tech companies like Spotify and Facebook.
Other participants in the round are 4DX Ventures, Golden Palm Investments, Future Africa, Seedstars, and Musha Ventures.
This funding will serve as a catalyst to enable Chaka power 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 Fintech’s footprints in West Africa to reach more retail investors and attract more foreign players to African Capital Markets.
Co-founder and Chief Executive Officer Tosin Osibodu said: “This is indeed a significant milestone for us at Chaka. We see digital investments as an opportunity to boost economic transformation in Africa, and our goal is to use this funding to bring this vision to life. “With this capital, we will focus on our goals to build a roaster of formidable partners and accelerate our expansion to other markets within Africa. This investment also enables us to hire top talent and integrate more advanced functionalities into our investment and wealth management solutions for businesses.
“Our mission remains the same, and we are excited to be backed by VCs like Breyer Capital that trust us and are extremely optimistic of the possibilities that exist for Chaka and Africa.”
CEO of Breyer Capital Jim Breyer said: “We are proud to combine efforts with a company that is levelling the investment playing field for Nigerians (and Africans at large). We’re confident in the value Chaka provides through its digital tools, and we look forward to playing our part in supporting Chaka’s team on their mission to drive borderless investments in Africa.”