Nigerian startup Bamboo, which provides an investment platform app, has raised $15m in Series A funding led by Greycroft and Tiger Global.
According to a report from Disrupt Africa, Motley Fool Ventures, Saison Capital, Chrysalis Capital and Y-Combinator’s Michael Seibel, and others, also participated in the round.
Launched in January 2020, Bamboo is an investment platform that unlocks global markets for Africans by providing real-time access to dollar-denominated assets via its platform. Users can fund with their dollar or local currency balance almost instantly and start investing in stocks.
Based in Lagos, Nigeria, the company closed its seed round in the first quarter of 2020 on $150,000, led by Rebel Fund and Y Combinator.
Bamboo reportedly plans to use the Series A funding to accelerate its growth, doubling down on unlocking new markets and launching more products. Since the company announced plans to launch in Ghana in April 2021, more than 50,000 Ghanaians have joined the waitlist.
Richmond Bassey, Bamboo’s CEO and co-founder, said, “Our goal is simple: we want to give Africans and their asset managers easy, fast and secure access to global investment options that will allow them to earn real returns. We’re building the technology infrastructure powering financial services in Africa such that if you’re investing in the global capital markets from Africa, you’ll be doing so using Bamboo, directly or indirectly.”
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