About a month after raising $1.5 million in pre-seed funding round, borderless trading and investment platform, Chaka has announced a partnership with TradingView, a global online charting platform that will help its user to spot investment opportunities in global markets.
According to Chaka, this partnership will enable traders and businesses across Africa to have direct access to TradingView’s investment community online. This community has over 15.5 million active investors, as well as 6 million trading ideas and 34 million user-created charts.
This partnership makes Chaka the first African broker to launch TradingView for retail investors and businesses in Africa. CEO, Tosin Osibodu told me that the partnership will also give investors access to over 11,000 assets trading on international stock markets as well as tools for improved investment decisions such as charts and trading ideas.
According to Tosin, the partnership aligns with Chaka’s mission to enable borderless digital investing for every African.
“As we work to expand our footprints on the continent, one of our key objectives is to identify and harness strategic partnerships such as this, as well as leverage our proprietary infrastructure, to deliver world-class, leading tools and platforms for Africans to invest, trade, and build lasting wealth”, he adds.
Launched by Chaka Technologies Limited in 2019, Chaka provides customers with access to the local and foreign capital markets. Since its launch, the startup has increased its offerings from over 4,000 local and foreign assets to over 11,000 stocks trading on capital markets.
When asked about questions raised about the identity of Chaka, Tosin told me that without questions Chaka is a company duly registered with the Nigerian Corporate Affairs Commission (CAC).
He however noted that the company is driven by a mission to enable borderless transactions and it intends to keep to that mission with a ubiquitous presence.
In December 2020, SEC clamped down on the stock trading platform and prevented it from further operations. This subsequently compelled the startup to pioneer the process of registering for the newly created SEC license.
The CEO mentioned that the move has boosted investors’ confidence and has significantly influenced the startup’s volume.
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