Africa is the world’s third fastest-growing crypto market, with crypto adoption increasing by more than 1,200% over the last two years. Countries such as Nigeria, Kenya and South Africa are majorly responsible for skyrocketing adoption rates as citizens try to hedge against currency devaluation and build wealth.
Despite African governments’ inconsistent stance on cryptocurrencies, these countries house most of the continent’s crypto and blockchain startups. In the latest development, one such company, Bitmama, has raised a pre-seed extension of $1.65 million, adding to the $350,000 it received last October, thus, closing the round at $2 million.
Africa-focused venture capital firms Unicorn Growth Capital and Launch Africa led the investment in Bitmama. Others include existing and new investors such as Adaverse, Flori Ventures, Tekedia Capital, GreenHouse Capital, ODBA, Five35 Ventures, Chrysalis Capital, Enrich Africa, Thrive Africa, Angellist Ventures and angel investors, including...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...