ChakaChuka
“Can a Nigerian retail investment app become the licensed rail for cross-border securities access across Africa?”
Founded2019
HQLagos, Nigeria
FoundersTosin Osibodu
Total raised$1.5M+ (pre-seed disclosed)
Latest roundPre-seed, 2021
IndustryFintech / Investment
The story
Chaka launched in 2019 as a Nigeria-based investment app offering local and international (US, 40+ market) stock trading, powered by brokerage partnerships with Citi Investment Capital and DriveWealth. After Nigeria's SEC issued an April 2021 warning against platforms trading unregistered foreign securities, Chaka became the first Nigerian fintech to secure the SEC's new digital sub-broker license, formalizing its cross-border investment model and enabling its $1.5M pre-seed a few months later.
Last 12 months
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Product timeline
2019
Chaka launches mobile investing platform giving Nigerians access to local and global (40+ country) stocks· banking
2021
Awarded Nigeria's first SEC digital sub-broker license after regulator warned investment apps against unregistered foreign securities· pivot
2021
Closes $1.5M pre-seed led by Breyer Capital· banking
Regulated entities
1
regulatory licence held by ChakaChuka
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in ChakaChuka’s embedded-finance stack
Investing
Accounting gap: none