Microtraction, the Nigerian-based investment fund, has announced an undisclosed investment in Raise, the Africa-focused fundraising platform.
Raise, a blockchain-based digital securities platform, seeks to not only democratize access to capital across the African continent, but also easily and simply enable and facilitate share and equity ownership among African founders, investors, and shareholders.
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Speaking about the new investment round, Marvin Coleby, CEO, Raise, said:
“Raise’s mission is to simplify equity and democratize access to assets for Africans across the world, where people have the power to create financial independence for their communities, teams, and families.”
– CEO, Raise
The African VC space is projected to grow to a $22 billion industry over the next 5 years.
Raise’s goal is to run private company transactions across its platforms on the African continent which are currently growing by 80% on average every year in the technology and VC asset space alone.
So far, Raise has scaled over 200 companies with over $150 milion in equity and created over $90 million worth of valuations.
Recently, Microtraction released its 2020 investment report which showed investments in 21 companies across Africa, including two crypto exchanges, BuyCoins and BitSika.
Microtraction was founded by Yele Bademosi who is also the founder of Bundle Africa, one of the fastest growing crypto startups on the African continent.
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About Microtraction
Microtraction is a Nigerian-based VC Fund that invests in Africa’s teams with technical founders at their earliest stages of their venture.
The company identifies the best early-stage, growth driven technology startups and works closely with them by providing pre-seed funding, professional, and advisory services.
They also help grow startups and get them to a point where they raise more funding or join a global accelerator while introducing them to later stage investors and while also helping them navigate the process of raising more funding.
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RECOMMENDED READING: Nigeria Becomes the First African Country to Officially Recognize Cryptocurrencies as Securities
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