Nigerian Blockchain Platform Bitmama Raises USD 350 K pre-Seed

Nigerian blockchain payments platform, Bitmama, announced a pre-seed raise of USD 350 K as it looks to expand its product offerings into other African countries, grow its operational presence, and increase its team. The round was led by San Francisco-based VC Flori Ventures, with participation from Nigeria-based VCs, Emergence Capital, Fedha Capital, and a host of other Angels and VCs.

The startup has two primary offerings; the Bitmama exchange, which enables users to buy, sell, and trade cryptocurrencies on the platform; Changera, a cross-border payment product that allows users to send and receive money internationally, buy airtime or data for family and friends, and pay utility bills from anywhere in the world.