The USA-based enterprise capital (VC) agency, QED Traders, 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 Traders’ newfound dedication in direction of the continent.

Teamapt’s Pre-Collection C

The fintech-focused enterprise capital agency, QED Traders, lately grew to become an investor in a Nigerian firm, Teamapt, a startup that specializes in offering funds and banking platforms. Based on a Techcrunch report, QED led an funding spherical that reportedly raised greater than $50 million for Teamapt.

Apart from QED Traders, the opposite members in the funding spherical — which the Techcrunch report has referred to as pre-Collection C — had been Novastar Ventures, Lightrock, and BII. The three all grew to become traders in the fintech agency after they participated in Teamapt’s Collection 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 stated:

We all the time strategy our fundraising effort opportunistically and need to be sure the market context, money wants of the enterprise and investor profile match our strategic development views. Given the overarching cautious market setting, we weren’t in lively fundraising mode. As a worthwhile firm, we didn’t want the money, however we had been completely happy to take a possibility so as to add a brand new high-profile investor.

For QED Traders, which reportedly has invested in 180+ plus corporations, the funding in Africa is the ultimate piece of the puzzle for a corporation that’s looking for 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 Traders has already employed Gbenga Ajayi and Chidinma Iwueke to spearhead its investments on the continent.

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