• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies Corporate deals

DEAL: Bitmama, blockchain payments startup, raises additional $1.65 million in pre-seed funding

Samson Akintaro by Samson Akintaro
September 9, 2022
in Corporate deals, Tech News
DEAL: Bitmama, blockchain payments startup, raises additional $1.65 million in pre-seed funding

Bitmama

Share on FacebookShare on TwitterShare on Linkedin

Blockchain payments startup, Bitmama Inc., has raised an additional $1.65 million in pre-seed funding. This brings its total funding for this round to $2 million, having raised $350,000 10 months ago.

The latest round is led by Unicorn Growth Capital and Launch Africa Ventures, with participation from Adaverse and follow-on from Flori Ventures, which led its earlier pre-seed round. New investors in the round include, Tekedia Capital, GreenHouse Capital, ODBA, Five35 Ventures, Chrysalis Capital, Enrich Africa, Thrive Africa, Angellist Ventures, and angel investors including, CELO founders; Rene Reinsberg, and Marek Olszewski, and Honey Ogundeyi.

The startup says the new pre-seed round will be used to expand its operational presence, strengthen its team across different markets, consolidate its product offerings, and plot market penetration across Africa, while rapidly scaling new use cases for cryptocurrency within the continent. At present, the company’s major products are the Bitmama exchange, which allows users to access virtual assets and explore several cryptocurrency use cases, then Changera, a social payment solution that allows non-crypto-savvy customers to use their money without limits, from anywhere in the world.

RelatedStories

No Content Available

Currently in three African markets; Nigeria, Ghana, and Kenya, Bitmama’s users are able to trade several cryptocurrencies, use their debit cards for regular online payments, pay utilities and perform transactions such as staking to hedge against currency devaluation.

What they are saying

Commenting on the round Founder and CEO of Bitmama Inc, Ruth Iselema, said: “Bitmama has made a number of strides in the past year. We’ve rolled out two products, both of which are fast closing in on 100,000 users across the African market and recording impressive daily active users across our range of product offerings despite the market dynamics. We are building Africa’s most user-friendly, innovative blockchain company, and we are glad to have the backing of seasoned investors and partners who have walked similar turfs. We are privileged to learn from their blended experiences across corporate and blockchain business verticals. We’re confident of the results we’ve achieved so far and we’re set to build the next big solution that the market deserves.”

Also speaking on the round, Janade Du Plessis, Managing General Partner at Launch Africa said: “As a prominent Pan-African VC fund, we see our partnership with Bitmama as a way to truly allow all Africans with the ability to trade and manage cryptocurrencies, and digital assets conveniently and universally, creating a significant impact on allowing more people to trade and transact across Africa.  This is something that we specifically value in our Fund and what Bitmama in particular delivers.”

Hema Vallabh, Founding Partner at Five35 Ventures said: “Being a leading female-focused VC fund, we at Five35 Ventures look forward to helping Ruth and her dynamic team scale Bitmama, especially seeing the growth of Changera, the remittance platform that allows all Africans to transact internationally at much cheaper rates than established remittance companies in the market.”

What you should know

  • Bitmama is a highly-secure blockchain payment platform pioneering “Crypto Beyond Trading” for Africans globally. The company is approaching the African crypto market differently by promoting the awareness and adoption of crypto through innovative product offerings including its virtual crypto debit cards, which afford over $10,000 in monthly spending limits.
  • Powered by VISA, these cards are funded with stablecoins and can work anywhere in the world for online transactions.
  • The startup has built a distributed remote team across Ghana, Nigeria, and Kenya, working to democratize the highly fragmented payment system in Africa. The goal, according to the team, is to leverage the blockchain in building solutions to power seamless peer-to-peer payments across the continent.

Follow us for Breaking News and Market Intelligence.
Tags: Bitmama Inc
Samson Akintaro

Samson Akintaro

Samson Akintaro is a tech enthusiast and has over a decade experience covering and writing about the tech industry. He is currently the Tech Analyst at Nairametrics.

Related Posts

No Content Available
Next Post
Queen Elizabeth II

Did you know that Queen Elizabeth II was monarch over Nigeria until October 1, 1963?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • AI-driven ID fraud surges in Africa as traditional scams decline – Report   
  • Latest Israel-Iran attacks could trigger fuel price increase in Nigeria – Analysts warn 
  • Report: Nigerian banks paying their staff less salaries compared to African peers, blames AMCON 

Follow us on social media:

Recent News

Banking Fraud

AI-driven ID fraud surges in Africa as traditional scams decline – Report   

June 13, 2025
UN Human Rights Commission warns of wider Middle East conflict amid Iran’s attack on Israel, seeks de-escalation  

Latest Israel-Iran attacks could trigger fuel price increase in Nigeria – Analysts warn 

June 13, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics