ComiBlock - Afrikan Heroes

Nigerian robo-advisor ComiBlock receives Expert Dojo investment

October 2, 2022

ComiBlock, an investtech startup located in Nigeria, has announced that it has acquired funding from Expert Dojo, a growth accelerator based in California, in a sum that has not been revealed.

Since it was first introduced, the ComiBlock platform has racked up a total transaction volume of over $420,000 USD. Following the acquisition of investment from Expert Dojo, a firm that has invested in over 200 businesses all over the world, the ComiBlock team intends to develop even more rapidly.

ComiBlock will be able to expand its operations and make investments in product development thanks to the fresh cash it has received. This will help the company speed up the process of ethical cryptocurrency investing for consumers in frontier markets.

A Look At What The Startup Does

ComiBlock is a goal-based investment crypto robo-advisor that was released in February 2021. It provides everyone with a smartphone access to planning tools, guidance, curated and thematic crypto-portfolios.

“Most crypto platforms are structured as an exchange and leave most retail users with a black box experience, which is unhealthy for many reasons. On top of that, most crypto exchanges see the average users as just an anonymised dollar value,” said ComiBlock co-founder and CEO Dennis Mary.

“These black box experiences have promoted an irresponsible and toxic investing culture. We’re rebuilding it entirely. The exchange model is an old factory. ComiBlock is effectively a new factory. Our recent funding from Expert Dojo is another sign of the faith and trust that our customers, partners, and investors have in ComiBlock. We’re honoured that they’ve come on this journey with us.”

Comiblock robo-advisor Comiblock robo-advisor

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Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexpert

Nigerian Startup Launches Crypto Investment Robo-Advisor

September 2, 2021

Nigerian startup ComiBlock has launched a goal-based investing crypto robo-advisor, giving anyone with a smartphone access to planning tools, advice, curated and thematic crypto-portfolios. Launched in February, ComiBlock uses technology to help its users become better crypto investors.

“We measure progress by helping our users achieve specific life goals, rather than generating the highest possible portfolio return or beating the market. We also do things like automatic rebalancing and crypto tax-loss harvesting, services that were only available to the ultra-rich until now,” founder Dennis Ejimnkeonye said.

“We believe that as cryptocurrency matures as an asset class, a purpose-built financial ecosystem is needed, mirroring the traditional equity and fiat investment markets. The gap we saw was a fundamental and neglected opportunity.”

The bootstrapped ComiBlock is planning a pre-seed round of financing to bring more talents onboard.

“We have built a solid five-month track record, generating more than 210 per cent net return since inception, without experiencing a single down month even during the market crashes,” said Ejimnkeonye.

“Uptake has been very stable and rapidly growing – though we are still in private beta, the referrals are coming in fast. We have controlled our growth to enable us to achieve a solid product-market fit first before we’re still opening up, but anyone can join with an invitation from an existing user.”

ComiBlock is Africa-focused for now, but looking at a global scale.

“We’re currently exploring a strategy around compliance and regulation. Though the Security Exchange Commission in Nigeria has given some clarity around robo-advisory and crypto, we are looking more outward with compliance, which gives us an edge in the global outlook,” Ejimnkeonye said.

“So far, none of the major robo-advisors globally include crypto in model or automated portfolios, only a couple allows customers to trade crypto on the side.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry