Cowrywise raises $3M pre-Series A funding
Having raised more than $500,000 through equity financing and grants, Cowrywise, a Nigerian fintech startup that provides digital wealth management and financial planning solutions services, has raised $3 million in pre-Series A funding.
The series funding had foreign and local investors in attendance, with Quona Capital taking the lead as Tsadik Foundation, Sahil Lavingia and a host of home and foreign based Nigerian investors participating.
Quona Capital, the lead investor, via its twitter handle, while commending the fintech for the kind of service it provides, expressed their delight to make their first investment in the country.
“We’re excited to announce our 1st investment in Nigeria! Cowrywise is working to democratize access to wealth-generating & investment tools – typically reserved for the wealthy – for everyday Nigerians. I am proud to back, team!”
Razaq Ahmed, Co-founder/CEO of Cowrywise, in a reaction to Quono Capital’s comment, said: “It’s really heartwarming having @QuonaCapital lead this round for us. Our shared vision around financial inclusion is a force for good. And the entire team is upbeat on our next phase of growth and impact.”
Cowrywise was founded by Razaq Ahmed and Edward Popoola in 2017. The company raised $50,000 and $120,000 in seed funds the following year.
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