Nigerian crypto exchange, Busha, has raised $4.2 million to deepen its market positioning across West Africa and other regions of the continent.
Having been scaling in Nigeria since 2019, Busha is now looking at onboarding the next one million into the crypto economy beyond its current 200, 000 users.
The startup prides itself as the first in the market to introduce tangible innovations, such as instant payouts and 24/7 human customer service.
The investment round was led by Jump Capital.
Other participants in the round include:
- Cadenza Ventures
- Blockwall Capital
- CMT Digital
- Greenhouse Capital
- Raba Capital
- Unnamed investors
According to Michael Adeyeri, CEO, Busha:
“Our immediate mission is to onboard the next one million Africans into the crypto economy. This funding will empower us to do more faster, improve our security, and take a definitive leadership position in our target markets.”
– CEO Busha
Busha recently launched a revamped version of the app with innovative features like:
- Minimum purchases for as low as 50 cents for a more inclusive offering
- One-click limit orders
- Automated recurring buys
In addition to new market expansion, the new funding is also expected to grow Busha’s position in the competitive market, as well as improve features of its technology, particularly service offerings.
Leading investors, Jump Capital and Cadenza ventures, have highlighted the promising Nigerian market as a route to expand financial access to millions through crypto.
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