by Terence Zimwara
America-based enterprise capital (VC) agency, QED Traders, 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 Traders’ newfound dedication in direction of the continent.
The fintech-focused enterprise capital agency, QED Traders, lately grew to become an investor in a Nigerian firm, Teamapt, a startup that makes a speciality of offering funds and banking platforms. In accordance with a Techcrunch report, QED led an funding spherical that reportedly raised greater than $50 million for Teamapt.
Moreover QED Traders, the opposite individuals within the funding spherical — which the Techcrunch report has referred to as pre-Collection C — had been Novastar Ventures, Lightrock, and BII. The three all grew to become buyers within the fintech agency after they participated in Teamapt’s Collection B spherical.
In the meantime, in his response to assertions the market downturn had disturbed his firm’s fundraising plans, Teamapt’s Tosin Eniolorunda reportedly mentioned:
We all the time method our fundraising effort opportunistically and wish to ensure the market context, money wants of the enterprise and investor profile match our strategic progress views. Given the overarching cautious market setting, we weren’t in lively fundraising mode. As a worthwhile firm, we didn’t want the money, however we had been joyful to take a possibility so as to add a brand new high-profile investor.
For QED Traders, which reportedly has invested in 180+ plus corporations, the funding in Africa is the ultimate piece of the puzzle for a corporation that’s searching for to develop into a “world fintech-specialist VC agency.”
To underline the US-based VC agency’s dedication to Africa, the report notes that QED Traders has already employed Gbenga Ajayi and Chidinma Iwueke to spearhead its investments on the continent.
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Terence Zimwara is a Zimbabwe award-winning journalist, writer and author. He has written extensively in regards to the financial troubles of some African nations in addition to how digital currencies can present Africans with an escape route.
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