Trove, Nigerian Micro-investing platform has secured funding from three local angel networks in preparation for expansion. Trove secured the investment from a syndicate of members from three Nigerian angel investor networks – Lagos Angel Network (LAN), SSE Angel Network (SSEAN), and Diaspora Angel Network (DAN). The platform has also raised funding from Ventures platform and ARM over the last 13 months. The size of the new investment was not disclosed
Trove’s platform was built to solve issues around the accessibility of securities investment, and allows Nigerians – and soon all Africans – to participate in the global economy and buy shares in international firms. It’s simple micro-investing app allows users to invest small amounts in more than 3,000 Nigerian, American and Chinese stocks, bonds and ETFs.
Oluwatomi Solanke, Trove’s co-founder CEO, stated that the wealth of experience and support the LAN, SSEAN and DAN communities brought to the startup would prove invaluable.
“We are excited to work and liaise with them as we continue to democratise the financial landscape and inch towards our goal of creating a level playing field for all investors across the continent to participate in the global financial system. We welcome the syndicate and are stoked about the endless opportunities that can come out of this,” Solanke said.
Gerard Olisa-Ashar of DAN said his network’s primary purpose was to find, mentor and fund talented entrepreneurs in Africa that are unleashing the potential to create real value to improve the lives of Africans through technology.
Funmi Oyetunji ,speaking on behalf of LAN said the network believed Trove was deploying technology to solve a huge problem – access to stock and wealth on the global stage for Africans.
“The Trove team has demonstrated commitment to creating and growing value for both clients and investors and we are excited to travel on this journey with them,” she said.