Ghanaian Fintech SecondSTAX Raises USD 1.6 Mn Pre-Seed Funding
Ghanaian fintech SecondSTAX (Secondary Securities Trading and Aggregation eXchange), is announcing its launch to the public today after raising USD 1.6 Mn in pre-seed funding from private investors and venture capital firms, including LoftyInc Capital and STEMeIn. The funding will see SecondSTAX launch in additional countries by the end of the year and help with regulatory and licensing issues.
SecondSTAX provides access to debt and equity securities across multiple African bonds and stock exchanges. The B2B capital markets infrastructure platform plans to assist investment firms outside Africa that want to invest in emerging and frontier economies on the continent. Investment firms onboarded on its platform can also hold assets in various currencies, thereby reducing single currency risk and reducing the volatility in their returns, whether in Africa or elsewhere.