Yele Bademosi, the founder and CEO of Bundle Africa, a Nigerian crypto payments startup, is stepping down as the company’s CEO. In a blog post published on Friday, Bademosi announced his decision to leave his current position, effective today. He stated that he aims to work on increasing the acceptance of digital currencies throughout Africa. At least for the time being, he will be succeeded by Binance Africa director Emmanuel Babalola.

“As I reflect on the journey so far, I am in awe of just how much has been accomplished. This chapter in my story really began when I joined Binance in the early days back in 2018. I, like many others, believed that Binance was the best and most aligned ecosystem to grow and scale the crypto adoption in the continent. I ran the Lagos chapter of the Incubation program as a Director of Binance Labs, raising some of today’s leading tech startups in the crypto ecosystem including Xend, Yellowcard, Bitsika and Raise to name a few, which have all gone on to do amazing things,” Bademosi said.

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According to Yele, he would spend the next 12 to 18 months building infrastructure that can allow the inflow of capital to support innovation beyond the buying and selling of crypto.

“I truly believe that blockchain technology and crypto are critical players in Africa’s economic transformation and I will continue to gear my efforts towards supporting and growing the nascent crypto community in Africa and other emerging markets. With all the new and interesting developments happening within the space, I am super excited to see where this journey takes me next,” he said.

Babalola, according to Bademosi, is not only familiar with Africa’s crypto business, but also knows how to easily navigate the worldwide crypto sector.

“[Babalola] is someone that I trust because we have the same mission and values, and I basically can’t imagine anybody else taking over,” Bademosi said.

Bademosi did not reveal his exact future plans, but he did say that the African crypto market has seen a lot of innovation in recent months, and that there is still a lot of room for innovation in social tokens, non-fungible tokens, and peer-to-peer payments.

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Bundle Africa was launched last year with the support of Binance, a global cryptocurrency exchange that provided $450,000 in startup investment for the development of the payments software. Bademosi claims that the app presently has around 350,000 users. Before founding Bundle, Bademosi, a Nigerian native, was a former director of Binance Labs as well as Founding Partner, Microtraction, a micro-investment platform. 

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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