Nigeria-based 42M Series Tiger India has raised $15 million from Greycroft and Tiger Global, two firms that are known for sourcing investments in emerging markets. The funds will be used for product development and marketing. Although the company has not yet launched its first product, it is in talks to do so.
Bamboo raises $15 million from Greycroft and Tiger Global
Bamboo is a two-year old Nigerian startup that offers investors in Africa the chance to invest in the United States. Its main product is an app that provides a gateway to over 3,000 stocks and ETFs listed on US stock exchanges.
The company is seeking to expand into other African markets. It recently announced plans to launch in Ghana in April of 2021.
Bamboo’s growth has been accelerated over the last two years. It now claims over 300,000 users in Nigeria and has more than 50,000 users on its waiting list in Ghana.
Bamboo will use the funds to further its business and launch new products. It will also develop its infrastructure and speed up withdrawals.
Bamboo is in the early stages of expanding into other African markets, including Kenya, Tanzania and South Africa. Currently, it is focusing on Nigeria, where it has more than 300,000 accounts.
Bamboo is expected to grow into a major player in the African market in the next few years. Its plans for expansion include rolling out more products and working with regulators to allow Africans to trade in the continent’s capital markets.
The company’s growth trajectory is similar to Robinhood’s Series A
A recent survey found that more than half of Americans held some type of security, with stocks and bonds a particularly popular choice. However, the financial markets are embroiled in a cultural battle.
As the market continues to move toward digital investing, it’s worth considering how traditional financial institutions can remain competitive. One way to do this is by embracing innovation and introducing new products. For example, Robinhood recently announced the launch of cryptocurrency trading, allowing investors to trade a broader range of crypto assets.
However, there’s a risk that the benefits of a product may be overshadowed by the drawbacks. For example, Robinhood has faced criticism for its trading restrictions. However, the company’s executives have said that these measures are needed to meet increased regulatory demands.
Robinhood’s base-case forecast projects that transaction-based revenues will grow to $6.3 billion by 2030. This figure comes primarily from routing customer orders to brokers and generating consideration from these brokers.
Bamboo’s growth trajectory is similar to that of Robinhood’s
Bamboo is a grass that has existed for centuries in Asia, Latin America, and parts of Africa. It produces multiple shoots that grow at a rapid rate for a period of approximately 60 days.
Bamboo is an environmental and economic resource that offers many potential uses. It can be used for a variety of products including fiber, paper, and charcoal briquettes. Several Asian bird species are threatened by bamboo habitat.
It has been studied as a sustainable wastewater treatment option. It can filter organic matter and sequester 1.78 tonnes of carbon dioxide per clump of bamboo per year. Agronomists in Africa are interested in using bamboo to restore degraded landscapes.
The root system is not deep. The rhizomes run horizontally underground and are perennial. They provide nutrients to the plant’s roots as they travel. As they reach a new location, the roots grow a new set of rhizomes to help spread the colony.
Bamboo can survive in almost any climate. It performs best in loose soils and in areas with a high organic content. However, it also thrives in more difficult conditions.
Bamboo’s future
Bamboo is a strong, lightweight material that is easy to work with. It also has an eco-friendly appeal. The material is often used for a variety of purposes, from agarbatti to reforestation.
In Asia, bamboo has long been a staple. Its structural properties make it a suitable substitute for timber.
But bamboo has had its fair share of controversy. For example, some former staff of an animal sanctuary in Tennessee have targeted the plant.
Another potential threat is termites. While bamboos are not naturally prone to these insects, they can still be damaged. To avoid this, bamboo structures are kept fairly dry and protected. If a pest does enter, they can be treated with borax.
Bamboo’s use as a building material is growing. Several Asian countries use bamboo to create affordable homes and offices. As the demand for lumber and steel increases, bamboo is gaining popularity.
The Chinese believe that bamboo represents values. Unlike steel, bamboo is not brittle, and it can be sanded.