In a volatile industry that saw the crash of giant FTX and the woes of regional player Patricia, having seven years of operations under the belt is no small feat. But that is what the crypto exchange startup, Jeroid Ltd, has achieved this week. The startup has evolved from a modest venture aimed at simplifying the conversion of crypto assets and gift cards to Naira into a dynamic and influential entity. The company’s inception in 2017 marked the beginning of a journey characterised by significant milestones and achievements.
Jeroid Ltd commenced operations in 2017 as a solo initiative led by Jeremiah Mayowa, the founder and current CEO. The subsequent years, 2018 and 2019, witnessed a gradual expansion with the recruitment of two additional team members. Initially operating remotely, the company inaugurated its headquarters in 2021.
Originally, all trading activities were conducted via WhatsApp. This changed dramatically in May 2021 with the launch of the Jeroid Version 1 App. This application streamlined the process of buying and selling cryptocurrencies and trading gift cards, leading to over 12,000 trades per month, an 800% increase. Following the launch of the Jeroid Version 1 App, the company secured its first official office at Plot 194 Herbert Macaulay Way, Yaba Lagos, further solidifying its presence in the market.
Building on the success of its initial app, Jeroid Ltd introduced the Jeroid Version 2 App in 2023, featuring advanced utilities and a Personalized Wallet feature. This innovation enhanced user experience and contributed to the company becoming the first Nigerian crypto exchange to achieve ISO certification. During this time frame, the average monthly trades experienced exponential growth, exceeding an impressive 1,500% increase.
Recognition
With over 101,000 users on its Version 2 app, Jeroid Ltd has emerged as a leader in the crypto-to-Naira conversion market. The launch of Jeroid Corporate Business Solutions has furthered crypto adoption within Nigeria’s fintech and economic sectors, a pioneering effort in the industry. The company has been recognised with multiple awards from BusinessDay, Nigeria’s leading business publication, including the “Top 25 CEOs” and the Top 100 SMEs awards, acknowledging the visionary leadership of its CEO and the success of the team.
Celebrating Seven Years
Jeroid Ltd on the 20th of May, celebrated its seventh anniversary, this milestone is a testament to the hard work and dedication of its team and supporters. As Jeroid Ltd continues to make significant strides in the industry, it extends its gratitude to everyone who has contributed to its journey and looks forward to many more years of success.
