Chaka partners with asset managers, financial technology firms, and regulators to facilitate digital investment for individuals and businesses. Credit: Francisco Venâncio on Unsplash.

Nigerian investment platform Chaka, which aims to digital investments for businesses across Africa, has raised $1.5m in pre-seed funding round led by Breyer Capital.

The round was also joined by Golden Palm Investments, Seedstars, 4DX Ventures, Musha Ventures and Future Africa.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Chaka partners with asset managers, financial technology firms, and regulators to facilitate digital investment for individuals and businesses.

The company said the fresh capital infusion will enable it to focus on its strategy to build a roster of partners and expand its footprint to other markets within West Africa.

It also plans to hire top talent and integrate more advanced functionalities into its investment and wealth management solutions with the new capital.

Chaka said in a statement: “This is a significant milestone for us at Chaka and we could not have come this far without our users, partners, early investors, and a talented, achieving team of Chaka Champions.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Breyer Capital CEO Jim Breyer said: “We are proud to align ourselves with a company that is levelling the investment playing field for Nigerians and Africans at large.

“We’re confident in the value Chaka provides through its digital tools, and we look forward to playing our part in supporting Tosin, Bo, Olaolu and the Chaka team.”

In May last year, SimCorp, a provider of investment management solutions, established on the ground presence in South Africa.

The move was aimed at offering modular front-to-back solutions and managed services to local asset managers, state pension funds, and sovereign wealth funds in the country.

In 2018, Egyptian investment bank EFG Hermes agreed to acquire Nigerian brokerage and research firm Primera Africa.