Busha, a Nigerian cryptocurrency exchange startup, has raised a $4.2 million investment led by Jump Capital with participation from Cadenza Ventures, Blockwall Capital, CMT Digital, Greenhouse Capital, Raba Capital, and other investors.
The new funding will go towards deepening Busha’s market positioning across West Africa and other regions on the continent.
“Our immediate mission is to onboard the next one million Africans into the crypto economy. We have seen the significant difference in financial freedom that crypto can make in the lives of our over 200,000 users, and we are very motivated to extend this to more people on the continent.” Michael Adeyeri, co-founder & CEO at Busha.
Founded in 2019, Busha is a digital currency and exchange platform where consumers and merchants can trade using digital currencies such as bitcoin, litecoin and ethereum safely and securely.
Moyo Sodipo, co-founder and Chief Product Officer at Busha adds that the startup’s growth has been driven by superior customer experience and an exciting features including. minimum purchases as low as 50 cents for a more inclusive offering, one-click limit orders, and automated recurring buys.
“We pride ourselves in being first in the market to introduce tangible innovations such as like instant payouts and 24/7 human customer service. This funding will empower us to do more faster, improve our security, and take a definitive leadership position in our target markets.”
Peter Johnson, Partner at Jump Capital: “We believe Nigeria and the African continent are one of the most promising places for crypto to make a significant impact in offering financial freedom to millions of individuals. We are excited to work with the Busha team to continue to enhance their market-leading product offering.”
“Emerging markets continue to be an attractive prospect for digital assets as a means to globalize payments and level the financial playing field. The Busha team has proven to be efficient operators in bringing this vision to reality.” Max Shapiro, co-founder and Managing Partner at Cadenza Ventures.