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Nigerian Investment Startup, Chaka Receives Pre-seed Funding From Iyinoluwa Aboyeji & Microtraction

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Chaka, an investment firm offering customers access to Nigerian and global financial assets, has raised undisclosed funding from Iyin Aboyeji, the co-founder of Andela and Microtraction, a Lagos-based early-stage investment platform founded by Yele Bademosi.

The technology-enabled platform referred to as a digital ‘Investment Passport’ allows users to invest in stocks listed on NASDAQ, the New York Stock Exchange and the Nigerian Stock Exchange offering over 4000 assets and indexes from companies such as Apple, Alibaba, Google, the S&P 500 index and many more.

This innovative platform provides opportunities for local investors to explore international markets and diversify their portfolios into African and global capital markets.

“In addition to this, it offers global citizens access to invest in local capital markets with just a click, thus bridging the gap in accessing viable investment vehicles.

Tosin Osibodu, founder and CEO of Chaka said: “With booming growth in many nations around the world, investors can now own a stake in the growth of other economies.

“Yet, for many Nigerians, this is a daunting task. We created Chaka to fill this gap, and likewise, give the global community access to local capital markets.”

He added, “Our goal is to provide premium borderless trading and investment opportunities for Nigerian professionals and investors. Chaka facilitates access to assets listed on the Nigerian stock exchange, American stock exchanges as well as global blue-chip companies from 40+ countries around the world.”

Iyinoluwa Aboyeji who confirmed his investment in the company to TechCrunch, believes progressive trends in Nigeria will open up a new investor class.

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The platform which was launched in October allows prospective investors to Trade and Invest in 40+ Countries and at the same time makes it possible for investors to invest as little as 1000 Naira or $10 to create a local and global wallet to trade.

The platform has partnerships with two brokers to facilitate stock purchases: Citi Investment Capital and U.S. based DriveWealth.

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