Nigerian startup Crowdyvest, until now a crowdfunding platform part of the same group of companies as agri-tech company Farmcrowdy, has secured new investment, prompting it to spin out as an independent entity and pivot its model.
Launched in 2019, Crowdyvest was created to provide all-in-one financial solutions for individuals and businesses to achieve short or long-term goals, allowing users to sponsor high-impact opportunities with high yields.
Founded by Farmcrowdy chief executive officer (CEO) Onyeka Akumah and four others, the platform was part of the EMFATO Holdings that also includes Farmcrowdy and Plentywaka, but has now become independent after securing investment from a group of investors led by Tope Omotolani.
Omotolani becomes CEO of the new independent Crowdyvest, which has also pivoted to a digital savings model as it looks to scale. The startup has launched the Crowdyvest Savings Platform to give savings options to over 10,000 subscribed members on its platform. It features four products that are properly tailored to fit all categories of individuals.
“It’s an honour and a privilege for me to be able to lead the team to the next level and next chapter of the business. Onyeka founded this company on the ethos of integrity and strong customer satisfaction and I’m grateful for the opportunity to continue to lead this technology company into its next chapter. Our major goal and focus as Crowdyvest is that we see a lot of people become financially free and we’re able to do this by the products that we create on the platform,” Omotolani said.
Akumah said the new investment gave Crowdyvest a footing from which to scale.
“Today, Crowdyvest is exiting fully from EMFATO Holdings and we are very happy about the new investors led by Tope, and excited to see how Tope will lead this business to new heights. I will now focus more on leading Farmcrowdy and Plentywaka as CEO of both companies into new markets in 2021,” he said.
“Tope is a strong and amazing leader and I see her leading Crowdyvest to become one of the leading wealth management companies in Nigeria within the next 3-5 years. I wish her and the team all the best and will continue to advise them on their journey when needed.”