Nigerian-based investment platform, Bamboo, has raised $15M in a new financing round led by Tiger Global and Greycroft.

The startup was founded in January 2020 and has experienced significant growth from the time it launched till this point - Bamboo had earlier raised $2.4 million to facilitate the firm within the launch period.

Leading in this funding round are U.S.-based Greycroft and Tiger Global - This will be the second Tiger Global-led investment announced this January after Ghanaian fintech Float. Other investors in this round include Mtehrotley Fool Ventures, Saison Capital, Chrysalis Capital and Y-Combinator CEO Michael Seibel.

Investment in Nigeria is one thing that many Nigerians relate to as the country's currency, The Naira, experiences devaluation every other year against the dollar - with the currency currently running on an almost 16% inflation rate, the average Nigerian is always looking of a handful of ways to save and invest their funds, particularly in U.S. stocks.

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Investment processes is another thing that can become strenuous for Nigerians - with processes that take up to weeks, the entire process can eventually become expensive and tedious. However, Bamboo has been positioned to simplify these processes.

As a brokerage and retail investment app, Bamboo lets Nigerians set up an account in minutes and buy and trade U.S. stocks in real-time.

Speaking about the Bamboo services, Richmond Bassey, co-founder of Bamboo disclosed “What we essentially want to do is to make investing in the global stock market easy for Africans. In accessing investment options, especially in capital markets, both locally and globally, we want to make that easy for Africans because we’re driven to help Africans create and preserve wealth by owning shares in the world’s most successful companies.”