Nigerian fintech startup, Trove, has secured an undisclosed amount of equity funding from assets management company, ARM. With this funding, ARM hopes to partner with the Fintech to help broaden investment opportunities for its teeming customers around the country.
This investment comes after Trove participated in the Labs by ARM programme launched in partnership with Ventures Platform in 2018.
Managing Director of ARM’s Financial Advisers, Henrietta Bankole-Olusina explained that the funding is a wonderful opportunity to enlarge the investment fields for their clients and help them accumulate wealth globally.
“We believe that this is a wonderful opportunity to enlarge the investment playing field for our valuable clients enabling them to trade in diverse stocks and accumulate wealth globally from the comfort of their homes. It is also our hope that this partnership will encourage more millennials to explore the world of investing in order to build a future of realised ambitions,”Henrietta Bankole-Olusina, the managing director of ARM’s Financial Advisers
With this investment, ARM hopes to partner with Trove and use its platform to offer its clients the opportunity of trading in government bonds, stocks, US stocks, US Exchange-traded funds.
Through this partnership also, users of the ARM Stocktrade App will be able to seamlessly participate in the global economy and own shares in companies such as Facebook, Lyft and Pinterest without social security numbers.
Founded in 2018 by Austin Akagu, Desayo Ajisegiri, and Oluwatomi Solanke, Trove is a platform that delivers access to investment opportunities in financial securities such as bonds and stocks in both the Nigerian and international markets.
This new round of funding is Trove’s second as the fintech previously raised an undisclosed amount from Nigeria-based VC, Ventures Platform less than a year ago.
Currently, Trove app has over 1000 downloads on Playstore. The startup hopes to continue its growth in Nigeria with this funding.
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