Busha, a Nigerian crypto-exchange platform that assists users in buying, selling, and managing their bitcoin portfolio, has acquired $4.2 million in venture investment. Jump Capital led the round, with Cadenza Capital Management, Blockwall, CMT Digital, GreenHouse Capital Africa, Raba Capital, and other investors joining in.
Busha was co-founded in 2018 by Michael Adeyeri and Moyo Sodipo with the goal of creating a crypto-driven economy that is fair, transparent, and accessible. The company just released a new version of its app, which includes features like 50-cent minimum purchases for a more inclusive offering, one-click limit orders, and scheduled recurring purchases.
Following its successful development in the Nigerian market, the firm plans to utilize the newly obtained capital to expand its operations to other African nations. Co-founder and CEO, Michael Adeyeri said “Our immediate mission is to onboard the next one million Africans into the crypto economy. We have seen the significant difference in financial freedom that crypto can make in the lives of our over 200,000 users, and we are very motivated to extend this to more people on the continent.”
Busha recently launched a revamped version of its app, with features such as minimum purchases as low as 50 cents for a more inclusive offering, one-click limit orders, and automated recurring buys.
“We pride ourselves in being first in the market to introduce tangible innovations such as instant payouts and 24/7 human customer service,” said co-founder and chief product officer Moyo Sodipo. “This funding will empower us to do more faster, improve our security, and take a definitive leadership position in our target markets.”
“We believe Nigeria and the African continent are one of the most promising places for crypto to make a significant impact in offering financial freedom to millions of individuals,” said Peter Johnson, partner at Jump Capital. “We are excited to work with the Busha team to continue to enhance their market-leading product offering.”
