Retail investing app Trove said to raise funds from three angel networks

Micro-investing startup Trove has allegedly secured capital from an investment round backed by three angel networks.

The capital injection comes as the company plans to expand its platform, accelerate its growth and bolster the size of its team, according to a report from Disrupt Africa.

Trove empowers Nigerians to invest into American, Chinese and Nigerian stocks, bonds, ETFs and more from as little as 1,000 Naira ($2.58). The mobile app, which is available on Android and iOS, can help users automate investing by linking a debit card to the app. Users can build up portfolios filled with micro-investments.

Plans are to deploy the tool to other countries in Africa.

The company previously raised capital from Ventures Platform and ARM, the article said.

There have been a number of FinTech deals closed in Nigeria this year.

Earlier in the year, Okra, which helps to connect apps with bank accounts, has reportedly raised $1m in pre-seed funding.

Know your customer verification platform VerifyMe Nigeria has closed a new investment round.

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