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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

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.

Chaka.com1 layer →

The stack

1 layer disclosed in Chaka’s embedded-finance stack

Investing

DriveWealth Citi Investment Capital

Accounting gap: none

Chaka — frequently asked

Who powers Chaka's investing products?

Chaka's investing and wealth products are powered by DriveWealth and Citi Investment Capital.

Who founded Chaka?

Chaka was founded by Tosin Osibodu and is founded in 2019, headquartered in Lagos, Nigeria.

How much funding has Chaka raised?

Chaka has raised $1.5M+ (pre-seed disclosed) in total (latest round: Pre-seed, 2021).

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