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GetEquity To Raise $1m, Allow Investors To Buy Beyond Equity

Olamide Ayeni by Olamide Ayeni
March 19, 2024
in Tech, Tech News, World
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GetEquity To Raise $1m, Allow Investors To Buy Beyond Equity
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GetEquity is raising $1 million to add its bonds and fixed-income assets to allow investors to buy beyond equity. With the new investment, old and new investors can have relatively safer asset classes like commodities and bonds.

In 2021, the Nigerian tech startup company announced the close of its six-figure pre-seed round led by GreenHouse Capital.

Following Stripe’s $200 million acquisition of Paystack, GetEquity stepped into a market where retail investors were eagerly anticipating significant returns from angel investing.

The platform facilitated these investors in discovering and supporting startups. However, with a reduction in venture funding across the continent and deteriorating macroeconomic conditions, retail investors are becoming increasingly hesitant to invest in risky asset classes.

Founded by Jude Dike and William Okafor, the Lagos-based tech start-up boasts a one-of-a-kind funding platform that seamlessly connects entrepreneurs and investors.

After thorough research and looking at the data on how customers have been investing, the startup co-founders, Dike and Okafor made significant changes to the approach of the company.

Also Read: Kenyan Doctors Embark On Nationwide Strike

How Will The Funds Raised Impact the Growth Of GetEquity As A Tech Startup in Nigeria?

As startup companies witness the challenges faced by once well-funded ventures, retail investors are gaining a deeper understanding of the complexities and risks associated with venture investing.

GetEquity, initially known for its platform enabling retail investors to purchase equity in startups, has recognized this evolving landscape.

To improve its services to fit today’s market, the startup company is expanding its offerings to provide investors with access to relatively safer asset classes, including commodities and bonds.

This strategic move by GetEquity acknowledges the changing preferences and risk appetite of retail investors in the current economic climate.

By diversifying its investment options, the platform aims to cater to a broader range of investors seeking stability and consistent returns amidst market uncertainties.

A whooping sum of one million dollars ($1 million) will be raised to channel the startup company through this next phase.

Highlighting the need to raise investment activity for the startup to reach its revenue goals, Dike shared that,

“Specifically, only 12% of GetEquity’s 14,000 registered users actively invested in equity deals.”

Despite facilitating 31 funding rounds and three exits, the company fell short of its revenue target, aiming to achieve profitability by 2023, after generating a huge sum of three hundred and twenty thousand dollars ($320,000) in revenue in 2022.

Entrepreneurs have the opportunity to showcase their startups on the GetEquity platform, where they can gain exposure to both institutional investors and the general public.

Through this innovative FinTech platform, individuals can invest in listed startups with as little as $10, democratizing access to equity ownership in emerging businesses.

From health to finance, the Nigerian Tech startup space has been receiving quite several investments in 2024. Startups like Moniepoint, Kuda, Flutterwave, Opay and some other start-up companies have received funding to scale their companies in the last few years.

GetEquity is backed by TechStars, a platform that provides startups with the opportunity to thrive and learn in a community of founders, industry leaders, and potential investors.

Tags: GetEquity

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Olamide Ayeni

Olamide Ayeni

Olamide Ayeni is a seasoned writer with experience in the Digital Marketing Industry as well as several other brands.

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