Lagos-based VC startup, GetEquity has raised an undisclosed pre-seed round to launch its startup funding platform in African and emerging markets.
The round was led by GreenHouse Capital and supported by several other investors. The exact total funding realised during the round was not revealed but the company says it is six figures.
According to Crunchbase, the company had already raised $100,000 in April before the round closed. This means that the total raise could be well above the $100,000 mark.
In addition to the funding, the company will also benefit from GHC’s advisory services and direct mentoring from GHC Partner, Bunmi Akinyemiju and Principal Ruby Nimkar.
Decentralising startup funding
Founded in 2020 by Jude Dike and William Okafor, GetEquity is redefining the venture capital and startup financing landscape with its first-of-its-kind venture funding platform that allows the public and institutional investors to buy equity for as little as $10.
According to the founders, the startup only started operations in March 2021. Its aim is to bring investors and entrepreneurs closer by unlocking global capital for African and emerging market startups.
Startups can list on the platform in order to market themselves to institutional investors and public users using the platform. Startups currently listed on the platform include Breeze, Onboardly, Nguvu Health, Fluidcoins, and WeMove Technologies.
With the latest round, the company wants to start democratizing access to startup funding and expanding the pie for previously underfunded and underserved startups using its GetEquity platform.
The platform is now live and can be accessed on the web, Android, and iOS in Africa and other emerging markets.
“GetEquity is challenging the status quo of startup financing and venture capital. We are democratizing access to startup funding and thereby expanding the pie for previously underfunded and underserved startups. This pre-seed round investment will enable us to kickstart our vision of building Africa’s biggest startup financing ecosystem,” he said.
“GetEquity enables anyone to buy equity in a listed startup for as little as $10”
Bunmi Akinyemiju, Founding Partner of GHC, believes that by increasing the visibility of African startups, GetEquity can help them get larger investment rounds, faster closes, and overall raise in the international profile of the African startup space.
GetEquity’s goal is to reduce the distance between founders and the funding they need by giving them access to a wide range of funding options.
According to the company, its GetEquity platform is just the first. In the coming months, it plans to launch another product tailored to institutional investors and VCs.