The US-based enterprise capital (VC) agency, QED Traders, not too long ago led an funding spherical that raised greater than $50 million for the Nigerian fintech Teamapt. The funding, in addition to the VC agency’s hiring of personnel tasked with spearheading its investments in Africa, appear to level to QED Traders’ newfound dedication in the direction of the continent.
Teamapt’s Pre-Collection C
The fintech-focused enterprise capital agency, QED Traders, not too long ago grew to become an investor in a Nigerian firm, Teamapt, a startup that focuses on offering funds and banking platforms. Based on a Techcrunch report, QED led an funding spherical that reportedly raised greater than $50 million for Teamapt.
Moreover QED Traders, the opposite individuals within the funding spherical — which the Techcrunch report has referred to as pre-Collection C — had been Novastar Ventures, Lightrock, and BII. The three all grew to become traders within the fintech agency after they participated in Teamapt’s Collection B spherical.
In the meantime, in his response to assertions the market downturn had disturbed his firm’s fundraising plans, Teamapt’s Tosin Eniolorunda reportedly stated:
We at all times method our fundraising effort opportunistically and wish to make certain the market context, money wants of the enterprise and investor profile match our strategic development views. Given the overarching cautious market setting, we weren’t in energetic fundraising mode. As a worthwhile firm, we didn’t want the money, however we had been blissful to take a chance so as to add a brand new high-profile investor.
For QED Traders, which reportedly has invested in 180+ plus firms, the funding in Africa is the ultimate piece of the puzzle for an organization that’s searching for to change into a “international fintech-specialist VC agency.”
To underline the US-based VC agency’s dedication to Africa, the report notes that QED Traders has already employed Gbenga Ajayi and Chidinma Iwueke to spearhead its investments on the continent.
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