Emergence Capital has invested in Bitmama, a company that is utilizing Blockchain Technology
Emergence Capital has invested in Bitmama, a company that is utilizing Blockchain Technology
Bitmama Inc., a highly secure and rapidly growing cryptocurrency platform that enables users to buy, sell, and trade Bitcoin, Ethereum, and other digital assets at the best rates possible through the use of its proprietary blockchain software technology. Emergence Capital is a growth markets early-stage investor in innovative and highly impactful businesses and is pleased to announce its investment in the company.
Following an increase in cryptocurrency adoption over the last year, Africa has been dubbed one of the world's fastest-growing markets for cryptocurrency adoption. The threat of African currencies weakening as a result of a resurgence of the COVID19 virus, as well as the high cost of money transfers in Africa, are thought to have played a role in this development.
Payment rails and other critical components that allow people to transact across jurisdictions at significantly reduced costs are made available to them through Bitmama, which makes it possible for payments and remittances to be processed and completed seamlessly across borders. Africa, Europe, and North America benefit from the company's Blockchain platform "Changera," which makes it possible to complete transactions in real time, with no delays. Through the promotion of an inclusive financial system for both individuals and businesses, the company is dedicated to enabling financial independence for its users. Bitmama's vision is to become the infrastructure for payments in emerging markets, primarily through the use of blockchain technology. The company currently has over 15,000 registered users across its two platforms, with a projected transaction volume of more than $6 million in 2021.
In addition to establishing regional payment infrastructure partnerships and securing access to cash float for instantaneous transaction settlements, working capital, and marketing, the investment by Emergence Capital will allow Bitmama to further expand its market presence in existing African markets.
"We are extremely excited about the future and about working with Emergence Capital during this next phase of our journey," said Ruth Iselema, CEO and founder of Bitmama, in response to the partnership's announcement. Despite the fact that we are working to improve the lives of several Africans, we are confident that Emergence Capital will provide us with critical strategic support as we expand our operations into new markets and business opportunities. Ultimately, one thing is certain: we will be one of the most prominent exchanges and cross-border payment and remittance facilitation companies in the world in the near future."
Ibukun Adeleke, Director at Emergence Capital, stated, "We are proud to partner with Bitmama and are impressed by the significant traction the business has gained across its key performance metrics, including transaction volume and value, user count, as well as local and international strategic partnerships." This team's efforts to decentralize and make financial services more readily available to people and businesses in Africa, with the overarching goal of using blockchain technology to solve the continent's problems, have inspired us to do more in this area. We are looking forward to what is to come! With Ruth and the Bitmama team, we look forward to collaborating closely on their expansion drive across their key target emerging markets and assisting in the realization of the company's overall corporate aspirations by leveraging our experience, partners, and relationships."
About Emergence Capital
emerging markets. Emergence Capital is an investment and advisory firm that specializes in emerging markets. Customized financial advisory services are made available to clients who are looking for investment planning and financial advisory services. The investment strategy of Emergence Capital is to generate superior financial returns while also making a positive contribution to the global community.
About Bitmama
It all started with Bitmama, which was established in 2017 as a peer-to-peer digital currency exchange. It quickly evolved into a platform that allows individuals to trade and manage cryptocurrencies and other digital assets with relative simplicity. By implementing blockchain technology into financial transactions, the company is redefining how people conduct financial transactions.
