Busha (www.Busha.co), an Africa-based cryptocurrency exchange raises a $4.2 million capital investment which was led by Jump Capital and other investors like Cadenza Ventures, Blockwall Capital, CMT Digital, Greenhouse Capital, Raba Capital also participated in the funding.
Since 2019, Busha has been expanding its services in Nigeria, and the new funding will go towards deepening its market positioning in West Africa and other regions of the continent and Its immediate mission is to bring the next million Africans into the crypto economy.
“Our immediate mission is to bring the next million Africans into the crypto economy. We have seen the significant difference in financial freedom that cryptocurrencies can make in the lives of our more than 200,000 users, and we are highly motivated to extend this to more people on the continent, ”said Michael Adeyeri, Co-founder and CEO of Busha.
The company recently launched a revamped version of the app with innovative features like minimum purchases as low as 50 cents for a more inclusive offering, one-click limit orders, and automated recurring purchases. Busha’s growth has been driven by a superior customer experience and an exciting set of features.
“We pride ourselves on being the first to market to introduce tangible innovations like instant payments and 24/7 human customer service,” says co-founder and chief product officer Moyo Sodipo. “This financing will allow us to do faster, improve our safety and take a definitive leadership position in our target markets.”
With a young population desperate for better financial mobility and wealth creation opportunities, crypto adoption in Africa continues to accelerate. Busha intends to leverage the resources of its new investors to offer prices that beat the market and return more value to its customers while remaining proactive with compliance and regulation.
“We believe that Nigeria and the African continent are one of the most promising places for cryptocurrencies to make a significant impact by offering financial freedom to millions of people,” said Peter Johnson, Partner at Jump Capital. “We are excited to work with the Busha team to continue to enhance their market-leading product offering.”
Emerging markets continue to be attractive to prospect for digital assets as a means to globalize payments and level the financial playing field. The Busha team has proven to be efficient operators in making this vision a reality, ”says Max Shapiro, Co-Founder and Managing Partner of Cadenza Ventures.