Nigerian fintech startup Syarpa raises $500k pre-seed round

By Tom Jackson on April 22, 2022 News, West Africa

Nigerian fintech startup Syarpa has closed a US$500,000 pre-seed round of funding to help it expand across Europe and Africa.

Syarpa enables users to carry out both international money transfers and crypto exchanges by providing fiat and crypto payment solutions, has over 2,000 users, aand has facilitated transactions worth over US$4 million since launch.

The startup is now planning expansion across Europe and Africa after raising a US$500,000 pre-seed funding round led by CrossFund and FirstFounders and also featuring Yolo Investments and a strategic angel investor.

“Moving funds or purchasing goods across borders is too complicated. People in Nigeria need to convert their local currency or crypto assets, move across platforms, and pay several fees because there is no comprehensive one-step solution. Syarpa is built to solve this problem,” said founder and CEO Adedapo Sodipo.

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Tom Jackson

Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.