Nigerian Blockchain Platform Bitmama Closes USD 1.6 Mn Pre-Seed Round

Nigerian blockchain payments platform, Bitmama, has raised a pre-seed extension of USD 1.65 Mn, adding to the USD 350 K it received last October, thus, closing the round at USD 2 Mn. Africa-focused venture capital firms Unicorn Growth Capital and Launch Africa led the investment in Bitmama. Others include existing and new investors such as Adaverse, Flori Ventures, Tekedia Capital, GreenHouse Capital, ODBA, Five35 Ventures, Chrysalis Capital, Enrich Africa, Thrive Africa, Angellist Ventures, and angel investors, including Rene Reinsberg, Marek Olszewski and Honey Ogundeyi.

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.