2 years ago
The United States-based task superior (VC) firm, QED Investors, precocious led an concern circular that raised much than $50 cardinal for the Nigerian fintech Teamapt. The investment, arsenic good arsenic the VC firm’s hiring of unit tasked with spearheading its investments successful Africa, look to constituent to QED Investors’ newfound committedness towards the continent.
Teamapt’s Pre-Series C
The fintech-focused task superior firm, QED Investors, precocious became an capitalist successful a Nigerian company, Teamapt, a startup that specializes successful providing payments and banking platforms. According to a Techcrunch report, QED led an concern circular that reportedly raised much than $50 cardinal for Teamapt.
Besides QED Investors, the different participants successful the concern circular — which the Techcrunch study has called pre-Series C — were Novastar Ventures, Lightrock, and BII. The 3 each became investors successful the fintech steadfast aft they participated successful Teamapt’s Series B round.
Meanwhile, successful his effect to assertions the marketplace downturn had disturbed his company’s fundraising plans, Teamapt’s Tosin Eniolorunda reportedly said:
We ever attack our fundraising effort opportunistically and privation to marque definite the marketplace context, currency needs of the concern and capitalist illustration lucifer our strategical maturation views. Given the overarching cautious marketplace environment, we were not successful progressive fundraising mode. As a profitable company, we did not request the cash, but we were blessed to instrumentality an accidental to adhd a caller high-profile investor.
For QED Investors, which reportedly has invested successful 180+ positive companies, the concern successful Africa is the last portion of the puzzle for a institution that is seeking to go a “global fintech-specialist VC firm.”
To underline the US-based VC firm’s committedness to Africa, the study notes that QED Investors has already hired Gbenga Ajayi and Chidinma Iwueke to spearhead its investments connected the continent.
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