Chaka
“Can a Nigeria-licensed InvestTech broker own the compliant path for African retail investors into global capital markets?”
Founded2019
HQLagos, Nigeria
FoundersTosin Osibodu
Total raised$1.5M+ (pre-seed disclosed)
Latest roundPre-seed, 2021
IndustryFintech / Investment
The story
Founded in 2019 as a Robinhood-style investing app opening Nigerian retail investors to global equities, Chaka partnered with US broker DriveWealth and local broker Citi Investment Capital to route trades. After Nigeria's SEC warned foreign-securities platforms in April 2021, Chaka became the first to secure the newly created Digital Sub-Broker License, effectively defining the regulated model for cross-border retail investing in Nigeria. It remains one of the core InvestTech platforms cited alongside Bamboo, Risevest, Cowrywise and Trove.
Last 12 months
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Product timeline
2019
Chaka launches mobile investing platform offering Nigerians access to local and 40+ countries' stocks via partnerships with Citi Investment Capital and DriveWealth.· banking
2021
Becomes first company to receive Nigeria SEC's Digital Sub-Broker license following the April 2021 SEC crackdown on unregistered foreign-securities platforms.· banking
2021
Closes $1.5M pre-seed led by Breyer Capital.· banking
Regulated entities
1
regulatory licence held by Chaka
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
Same company
Chaka was analysed under more than one name on the same domain, so its stack is split across these dossiers. Each was analysed independently and may name providers the others do not.
The stack
1 layer disclosed in Chaka’s embedded-finance stack
Investing
Accounting gap: none