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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

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

DriveWealth Citi Investment Capital

Accounting gap: none

ChakaChuka — frequently asked

Who powers ChakaChuka's investing products?

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

Who founded ChakaChuka?

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

How much funding has ChakaChuka raised?

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

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