The US-based enterprise capital (VC) agency, QED Buyers, lately led an funding spherical that raised greater than $50 million for the Nigerian fintech Teamapt. The funding, in addition to the VC agency’s hiring of personnel tasked with spearheading its investments in Africa, appear to level to QED Buyers’ newfound dedication in direction of the continent.
Teamapt’s Pre-Sequence C
The fintech-focused enterprise capital agency, QED Buyers, lately turned an investor in a Nigerian firm, Teamapt, a startup that makes a speciality of offering funds and banking platforms. In keeping with a Techcrunch report, QED led an funding spherical that reportedly raised greater than $50 million for Teamapt.
Apart from QED Buyers, the opposite contributors within the funding spherical — which the Techcrunch report has referred to as pre-Sequence C — have been Novastar Ventures, Lightrock, and BII. The three all turned traders within the fintech agency after they participated in Teamapt’s Sequence B spherical.
In the meantime, in his response to assertions the market downturn had disturbed his firm’s fundraising plans, Teamapt’s Tosin Eniolorunda reportedly mentioned:
We all the time method our fundraising effort opportunistically and wish to be certain the market context, money wants of the enterprise and investor profile match our strategic progress views. Given the overarching cautious market setting, we weren’t in energetic fundraising mode. As a worthwhile firm, we didn’t want the money, however we have been glad to take a chance so as to add a brand new high-profile investor.
For QED Buyers, which reportedly has invested in 180+ plus corporations, the funding in Africa is the ultimate piece of the puzzle for an organization that’s in search of to change into a “world fintech-specialist VC agency.”
To underline the US-based VC agency’s dedication to Africa, the report notes that QED Buyers has already employed Gbenga Ajayi and Chidinma Iwueke to spearhead its investments on the continent.
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