Canza Finance, a Nigerian neobank establishing a non-institutional financial system, has completed its seed funding round of $3.27 million.
Dominance Ventures, Bixin Ventures, Consensys, Protocol Labs, Emergo Ventures, MEXC Global, NGC Ventures, XanPool, Hashkey, and the Celo founders were among the investors in the round, which was led by Fenbushi Capital.
Prior to this investment round, Flori Ventures financed Canza through a pre-funding round and participation in the Filecoin Launchpad Accelerator, Powered by Tachyon.
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“Today, we stand at a pivotal juncture in the journey to democratizing finance, with Nigeria rising as the vanguard of crypto adoption internationally,” said Oyedeji Oluwoye, CoFounder and CTO of Canza Finance.
“The rate of cryptocurrency adoption in high-growth markets, particularly Africa, not only reflects increased excitement for this new digital economy, but also the advancement of real-world use cases,” said Fenbushi Capital Managing Partner Bo Shen.
A Look At What The Startup Does
Canza Finance was established in 2020 and provides financial and transactional services to customers in Sub-Saharan African countries through a large network of local money market operators.
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Canza’s seamless crypto on/off-ramp services enable a variety of DeFi services, including staking, peer-to-peer (P2P), and cross-border settlements, with the purpose of helping to build a cutting-edge, fully decentralized financial system.
With the support of this finance, Canza Finance will be able to maintain its headcount growth and expand its service offering in Nigeria, as well as other rising countries such as South America and Asia.
Canza Finance Funding Canza Finance Funding
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer