American venture capital firms Greycroft and Tiger Global have led a $15 million Series A funding round for Nigerian investment platform Bamboo, which allows Nigerians to buy and sell US equities in real-time via their mobile computers or phones. The round included participation from Motley Fool Ventures, Saison Capital, Chrysalis Capital, and Y-Michael Combinator’s Seibel.
Bamboo, founded by CEO Richmond Bassey and COO Yanmo Omorogbe in 2020, has quickly gained traction among retail investors, with over 300,000 accounts in Nigeria. Its users have access to all stocks listed on US stock exchanges.
“Our goal is simple: we want to provide Africans and their asset managers with quick, rapid, and safe access to global investment opportunities that will enable them to make meaningful returns,” Bassey explained.
“Bamboo is enabling Africans to develop money by creating an investing platform that is beneficial to both seasoned and novice investors.” On the investment, Greycroft Partner Alison Lange Engel remarked, “We are happy to support the Bamboo team’s creative, user-first approach to the market.”
Bamboo intends to use the new capital to accelerate its growth by doubling down on expanding into new markets and developing new goods.
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