Microtraction, a Nigerian early-stage investment platform, has announced its first two investments–CowryWise and Bitkoin Africa. The amount of each investment has not been disclosed but Microtraction, which was launched in July 2017, plans to invest US$65,000 in startups at the very earliest stage of their development.
CowryWise operates an automated personal savings service. With a debit/ATM card, the platform automatically saves from the users’ bank accounts into their CowryWise accounts. Whether it’s saving for a child’s education, a vacation or new home, users can create as many saving plans as they wish.
Microtraction believes CowryWise has a massive opportunity for growth as its product solves a genuine problem which the existing competition find difficult to offer. According to the Founder and Managing Partner of Microtraction, Yele Bademosi, “They need to scale very fast over the next 12-18 months and continue to increase the customers they have on the platform.”
Bitkoin Africa, on the other hand, is a Lagos-based Person-to-Person (P2P) cryptocurrency trading platform where users can sell and buy cryptocurrency from other users. The platform offers users an easy and secure way to trade bitcoin, litecoin, ethereum, and bitcoin cash in Africa. Users are assured of Click here to read entire article
Source:: Tech city NG