SecondSTAX, an Accra, Ghana and Nairobi, Kenya-based cross-border multi-asset order routing and market data portal in Africa, raised $1.6M in Pre-Seed funding.
Backers included LoftyInc Capital Management, Orbit54, and STEMeIn.
The company intends to use the funds to accelerate growth, expand operations and team.
Co-founded in 2020 by Eugene Tawiah and Duke Lartey, SecondSTAX provides access to debt and equity securities across multiple African bond and stock exchanges. The company facilitates transactions by securely routing orders onto existing mature capital markets exchange infrastructure, through sponsored broker relationships, in full compliance with local regulations.
At launch, the consolidated portal connects Ghanaian and Kenyan capital markets through sponsored broker relationships. In addition to gaining access to these capital markets, investment firms using SecondSTAX can now maintain assets in multiple currencies, reducing single currency risk and decreasing volatility in their returns, whether they are in Africa or elsewhere.
The system facilitates transactions by securely and efficiently routing orders onto existing mature capital markets exchange infrastructure, through sponsored broker relationships, in full compliance with local regulations.
FinSMEs
29/09/2022