QED Investors, a US-based venture capital (VC) firm, recently led an investment round in Nigerian fintech company Teamapt, raising over $50 million in The firm raised more than $50 million. This investment and the hiring of a person to lead the investment in Africa seem to signal QED Investors’ renewed commitment to the continent.
Teamapt’s pre-series C
QED Investors, a fintech-focused venture capital firm, recently became an investor in Teamapt, a Nigerian company and startup specializing in providing payment and banking platforms, Techcrunch reports…QED led an investment round that reportedly raised more than $50 million for Teamapt.
In addition to QED Investors, the other participants in this investment round, which Techcrunch reports as pre-series C, are Novastar Ventures, Lightrock, and BII. All three companies became investors in this fintech company after participating in Teamapt’s Series B round.
Meanwhile, in response to claims that the market downturn had sabotaged the company’s financing plans, Teamapt’s Tosin Eniolorunda reportedly said.
We always want to be resourceful in our fundraising efforts and make sure that the market conditions, the financing needs of the business and the investor profile are consistent with our strategic growth view. We were not in an aggressive fundraising mode as market conditions were generally cautious. However, we were pleased to have the opportunity to add another high-profile investor.
For QED Investors, which reportedly has invested in over 180 companies, the Africa investment is the final piece of the puzzle for the company’s quest to become a “global fintech-focused VC firm.”
To underscore the U.S.-based VC firm’s commitment to Africa, QED Investors has already hired Gbenga Ajayi and Chidinma Iwueke to lead its investments on the continent, the report said.
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