HomeGuidesNigerian Blockchain Startup Bitmama Closes $2 Million Pre-Seed Spherical – Africa Bitcoin...


After elevating $1.65 million by the use of a pre-seed extension, Bitmama, a Nigeria-based blockchain startup, has now closed its pre-seed investment spherical at $2 million, a file has stated. Main the investment spherical had been two Africa-focused challenge capital companies: Unicorn Enlargement Capital and Release Africa.

New Investment to Assist Bitmama Scale Up Crypto Use Instances in Africa

A Nigeria-based blockchain startup, Bitmama, just lately closed its pre-seed investment spherical at $2 million after it added $1.65 million to the $350,000 that used to be raised in October remaining 12 months. In keeping with a Techcrunch file, the investment spherical used to be led by means of two Africa-focused challenge capital (VC) companies, particularly, Unicorn Enlargement Capital and Release Africa.

Additionally taking part within the fundraise had been current and new buyers equivalent to Adaverse, Flori Ventures, Tekedia Capital, Greenhouse Capital, ODBA, Five35 Ventures, Chrysalis Capital, Enrich Africa, Thrive Africa, and Angellist Ventures. Angel buyers that participated within the spherical come with Rene Reinsberg, Marek Olszewski, and Honey Ogundeyi.

In keeping with the file, the blockchain startup will use the price range raised to reinforce its crew in addition to to combine its product choices. The price range will additional be used to lend a hand Bitmama scale up use circumstances for cryptocurrency at the African continent.

Purchasing and Promoting Crypto on Bitmama

In remarks following the announcement, Ruth Iselema, a founder and the manager government officer at Bitmama, stated:

We began Bitmama to make it simple for any individual around the African continent to shop for and promote cryptocurrency. However as time handed, we noticed a few use circumstances shall we make use of this era to unravel.

As consistent with the file, one of the crucial cryptocurrency use circumstances known by means of Bitamama come with the acquisition of airtime or paying for utilities the use of crypto. Additionally, to lend a hand small companies suffering from foreign currency echange restrictions, the startup stated it has availed “digital greenback playing cards for Nigerians to make world purchases.”

In the meantime, Iselema may be quoted within the file suggesting that Bitmama is making plans to introduce a “couple of cutting edge merchandise” which would be the first out there.

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Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, creator and author. He has written broadly in regards to the financial troubles of a few African international locations in addition to how virtual currencies may give Africans with an break out course.

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