SecondSTAX, a platform that links institutional investors, has received pre-seed funding of US$1.6 million from LoftyInc Capital, Orbit54, and STEMeIn.
Eugene Tawiah and Duke Lartey founded SecondSTAX in 2020 to enable investors to trade debt and equity assets on several African bonds and stock markets.
According to co-founder and CEO Eugene Tawiah, “we anticipate that in the following 18 to 24 months, the revenue from these clients starts to become increasingly important in terms of being able to transfer us from startup mode to an actual operational concept generating meaningful revenue.”
The company is considering the African financial markets in Egypt, Kenya, South Africa, Morocco, and Morocco.
When it does begin, however, it will do so in the first two, enabling cross-border transactions inside of both capital markets through its sponsored broker agreements and making it easier for market orders to be routed for all stocks across the Ghanaian and Kenyan exchanges.
By the end of the year, SecondSTAX will use the new funding to broaden its international presence.
Additionally, the business plans to expand its staff and improve its technology by adding more customer-requested features.
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Fido, a Ghanaian fintech startup, has raised $30 million in a Series A funding round
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