Lagos-based VC startup, GetEquity has secured an undisclosed six-figure pre-seed funding to launch its first product, a venture-funding platform that connects entrepreneurs and investors in emerging markets.
The funding round was led by GreenHouse Capital, an African fintech investment fund and platform focused on supporting early-stage companies and world-class emerging market entrepreneurs.
According to information available on Crunchbase, the company has already secured a $100,000 investment in April before the close of this seed round. This implies that the total amount raised by the VC startup is well above $100,000.
Founded by Jude Dike and William Okafor 2020, GetEquity is a fundraising and venture portfolio management company that aims to reduce friction between founders and the funding they need by giving them access to a wide range of funding options.
Startups can list themselves on the Get Equity platform and market to institutional investors and public users. GetEquity enables anyone to buy equity in a listed startup for as little as US$10.
“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,” said GetEquity co-founder and chief executive officer (CEO) Dike Jude.
Bunmi Akinyemiju, the founding partner of GreenHouse Capital, said he was proud to see GetEquity’s platform launch after the firm played a key mentoring role.
“One of our missions at GreenHouse Capital is to bring African startups to the world. GetEquity’s platform advances this mission by democratizing access to the continent’s fastest-growing startups. We also believe in “founders backing founders” and have been thrilled to directly work with GetEquity from an early stage,” he said.
“The increased visibility that the platform will give African startups will inevitably result in larger investment rounds, faster closes, and an overall raising of the international profile of the African startup space.”
GetEquity’s startup funding platform is now live and can be accessed on the web, Android, and iOS. The startups listed at launch include Breeze, a startup that facilitates currency conversions and transfers for businesses; Onboardly, a startup that helps organizations automate their employee onboarding experience; Nguvu Health, a startup that provides affordable and on-demand teletherapy access to users; Fluidcoins, a startup that African users receive payments in cryptocurrencies; and WeMove Technologies, a transportation and logistics startup.
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.