Emergence Capital, a growth markets early-stage investor in innovative and highly impactful businesses is pleased to announce its investment in Bitmama Inc, a highly secured, and fast-growing crypto platform to buy, sell or trade Bitcoin, Ethereum, and other digital assets at the best rates, leveraging its proprietary blockchain software technology.
Over the last year, Africa has been considered one of the world’s fastest-growing markets for cryptocurrency adoption. The trend is believed to have been partly influenced by the danger of weakening African currencies due to a resurgence of the COVID19 virus and the high costs of money transfers in Africa.
Bitmama is providing a solution for seamless processing and completion of cross-border payments and remittances by offering access to payment rails and other key elements that enable people to transact across jurisdictions at significantly lower costs. The company leverages its Blockchain platform “Changera” to deliver instant, seamless & secure transaction fulfillment processes across Africa, Europe & North America and is committed to enabling the financial freedom of its users by supporting an inclusive financial system for both individuals and enterprises. With over 15,000 registered users across its two platforms and transaction volume in excess of $6mm in 2021, Bitmama’s vision is to become the infrastructure for payments across emerging markets primarily leveraging blockchain technology.
Emergence Capital’s investment will help Bitmama deepen its market presence in existing African markets by unlocking regional payment infrastructure partnerships, ensuring access to cash float for instantaneous transaction settlements, working capital, and marketing.
Commenting on this partnership, Ruth Iselema, CEO and founder at Bitmama, said, “We are very excited about the future and working with Emergence Capital through this next phase of our journey. As we work towards improving the quality of life of several Africans, we strongly believe that Emergence Capital will provide us with the much-needed strategic support to explore new markets and opportunities. One thing is certain at the end of the day, we are going to be one of the most prominent exchanges and cross-border payment and remittance facilitators across the world.”
Ibukun Adeleke, Director at Emergence Capital, speaking about this investment said, “We are proud to partner with Bitmama and are impressed with the significant traction the business continues to make across its key performance parameters including transaction volume & value, number of users, local and international strategic partnerships. We are inspired by the Bitmama teams’ efforts to make financial services more decentralized and accessible for people and companies in Africa with an overarching mission to solve our problems on the continent using blockchain. We are excited for what is to come! Leveraging our experience, partners, and relationships, we look forward to working closely with Ruth and the Bitmama team on their expansion drive across their key target emerging markets and help realize its overall corporate aspirations.”
Bitmama started in 2017 as a P2P digital currency exchange. It quickly grew into a platform where individuals can trade and manage cryptocurrencies, and digital assets conveniently. Today, the company offers a trusted platform for cryptocurrency transactions that has redefined the way people do financial transactions through blockchain technology.
About Emergence Capital
Emergence Capital is a growth market investment and advisory firm. It offers bespoke financial advisory services to clients seeking investment planning and financial advisory solutions. Through its investments, Emergence Capital aims to deliver outstanding financial returns while making a lasting and positive impact on the world.