Bitmama Inc. has raised an additional USD 1.65mn for its pre-seed round after raising an initial USD 350,000 last year.
You can read that article here.
This latest round was led by Unicorn Growth Capital and Launch Africa Ventures with participation from Adaverse, Tekedia Capital, GreenHouse Capital, ODBA, Five35 Ventures, Chrysalis Capital, Enrich Africa, Thrive Africa, Angellist Ventures and angel investors. These include CELO founders, Rene Reinsberg, Marek Olszewski and Honey Ogundeyi.
The startup will use the funds to expand its operational presence, strengthen its team in different markets, consolidate its product offering and plan its pan-Africa strategy.
The company has two main products. They are: the Bitmama exchange and Changera, a social payment solution that allows users who are not crypto-savvy to use their money from anywhere in the world. Its approach to the crypto market in Africa is by promoting crypto awareness through products such as a virtual crypto debit card with over $10,000 in monthly spending limits.