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Nigerian Wealth Management Platform Cowrywise Raises $3M Pre-Series A to Scale Company Growth

The rise of fintech is here, and Nigerian startup Cowrywise is proof of that. The digital wealth management and financial planning solutions platform just closed a $3 million pre-Series A funding round — led by Quona Capital — in addition to its previously raised $500,000 through equity financing and grants, to help expand its company growth, according to TechCrunch. Other participating companies and individuals in the funding round include the Tsadik Foundation, Gumroad CEO Sahil Lavingia, and a syndicate of local Nigerian angel investors in the diaspora. Cowrywise’s mission aligns with “digitizing investment management for Africans and enabling access to savings and investment products securely,” according to the company’s website. The fintech startup prides itself on helping the underserved such as Africa’s middle class individuals and millennials to better manage their wealth. CEO Razaq Ahmed came up with the idea to found Cowrywise after noticing that existing investment...

Njera Perkins

Jan 28, 2021