Busha, a Nigerian-crypto exchange startup, has raised $4.2 million in seed funding from investors to be used for its pan-African expansion and product development. The startup will use the funds to expand its operations and user base across the African continent.
Busha is a crypto exchange that seeks to enable Africans with high purchasing power to purchase cryptocurrencies such as Bitcoin, Ethereum or Litecoin without having to go through long and complicated registration processes on other exchanges.
The seed round was led by Jump Capital with participation from Cadenza Ventures, Blockwall Capital, CMT Digital, Greenhouse Capital, and Raba Capital and other investors.
Busha Is One Of Africa’s Leading Digital Asset Platforms
Established in 2019 by Michael Adeyeri (CEO) and Moyo Sodipo (CPO), Busha is one of Africa’s leading digital asset platforms. The company was founded in 2019 by Michael Adeyeri (CEO) and Moyo Sodipo, the Chief Product Officer. Its mission is to enable users to experience a blockchain-based future of finance through software and services.
The startup says it has over 200,000 registered users and has executed over 1.5 million trades. According to Busha, it has a superior customer experience and offers an exciting feature set.
Recent updates to the Busha app include low minimum purchases of 50 cents for more inclusive offerings, one-click limit orders, and automated recurring orders.
Busha has over 100k downloads on play store and offers zero transaction fees when you buy or sell with fiat.
There are over 100k downloads on the Play Store for Busha, and there are no transaction fees when you buy or sell with fiat.
Key Stakeholders: Busha Is The Perfect Gateway To Blockchain
According to Partner Peter Johnson of Jump Capital, Nigeria and the African continent are among the most promising places for crypto to offer financial freedom to millions of individuals. Busha’s market-leading product offering will continue to be enhanced by Jump Capital as they work with the Busha team.
“For digital assets, emerging markets continue to offer an attractive prospect to level the financial playing field and globalize payments,” stated Max Shapiro, co-founder and managing partner at Cadenza Ventures. In bringing this vision to fruition, the Busha team has proven itself as efficient operators.
Michael Adeyeri, co-founder & CEO at Busha explained that over 200,000 of our users had seen the benefits of cryptocurrencies in their lives, and said that the Busha team were very motivated to extend these benefits to more people on the continent. In the immediate future, they aim to onboard the next one million Africans into the crypto economy.
Founder and CPO at Busha, Moyo Sodipo, says the company takes pride in being the first in the market to introduce initiatives like instant payouts and 24/7 customer service. He believes that through this funding, they will be able to do more and faster, improve their security, and grow their market leadership.
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Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
