New Funding to Help Bitmama Scale Up Crypto Use Cases in Africa

A Nigeria-based totally blockchain startup, Bitmama, recently closed its pre-seed investment spherical at $2 million after it added $1.Sixty five million to the $350,000 that turned into raised in October final year. According to a Techcrunch file, the funding spherical was led by way of  Africa-targeted venture capital (VC) companies, specifically, Unicorn Growth Capital and Launch Africa.

Also collaborating in the fundraise were current and new investors such as Adaverse, Flori Ventures, Tekedia Capital, Greenhouse Capital, ODBA, Five35 Ventures, Chrysalis Capital, Enrich Africa, Thrive Africa, and Angellist Ventures. Angel investors that participated inside the spherical encompass Rene Reinsberg, Marek Olszewski, and Honey Ogundeyi.

According to the report, the blockchain startup will use the budget raised to bolster its crew in addition to to integrate its product services. The finances will further be used to help Bitmama scale up use instances for cryptocurrency at the African continent.

Buying and Selling Crypto on Bitmama

In comments following the statement, Ruth Iselema, a founder and the chief government officer at Bitmama, stated:

    We commenced Bitmama to make it clean for everyone across the African continent to buy and sell cryptocurrency. But as time handed, we saw more than one use cases we could hire this technology to resolve.

As in line with the record, a number of the cryptocurrency use cases recognized through Bitamama encompass the acquisition of airtime or buying utilities using crypto. Also, to help small businesses suffering from foreign exchange restrictions, the startup stated it has availed “digital dollar cards for Nigerians to make worldwide purchases.”

Meanwhile, Iselema is likewise quoted inside the file suggesting that Bitmama is planning to introduce a “couple of modern products” as a way to be the first within the marketplace.

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