February 27, 2020 All Things Fintech in Africa

Trove Secures Funding from ARM

Trove has secured an undisclosed amount of equity funding from Nigerian asset management firm known as ARM for short,to help it deliver access to global investment opportunities. ARM has recently kicked off its Labs by ARM program in partnership with Trove’s earlier investors, Ventures Platform that Trove participated in. This investment came after Trove participated in the Labs by ARM programme.

 

 

Trove is a micro-investing app that allows users to invest in cryptocurrency assets, financial securities such as stocks and government bonds in Nigeria and in international markets such as the United States (US). The platform was built to help solve issues around the access to securities investments, and accessibility for Nigerians – and soon all Africans – to participate in the global economy and buy shares in international firms.

 

During an ARM’s programme focused on supporting startups to utilize technology, applications, and services to solve specific problems, Trove who one of the six participants was able to secure funding from the company to assist its growth

With this funding, ARM hopes to partner with the Fintech to help broaden investment opportunities for its teeming customers around the country. It also looks to expand investment opportunities for its clients

 

ARM will utilise the Trove application to offer its clients the opportunity of trading in government bonds, stocks, US Exchange- traded funds, US stocks. Clients with the ARM Stocktrade App will be able to seamlessly participate in the global economy and own shares in companies such as Facebook, Lyft, Pinterest and Zoom without the need to reside in the US or have social security numbers.

Acooriding to the ARM Financial Advisers manging director Henrietta Bankole-Olusina stated:

“We believe that this is a wonderful opportunity to enlarge the investment playing field for our valuable clients enabling them to trade in diverse stocks and accumulate wealth globally from the comfort of their homes. It is also our hope that this partnership will encourage more millennials to explore the world of investing in order to build a future of realised ambitions.”

 

 

ARM Invests in Trove as it Looks to Expand Investment Opportunities for its Clients

Managing Director of ARM’s Financial Advisers, Henrietta Bankole-Olusina explained that the funding is a wonderful opportunity to enlarge the investment fields for their clients and help them accumulate wealth globally.

 

“We believe that this is a wonderful opportunity to enlarge the investment playing field for our valuable clients enabling them to trade in diverse stocks and accumulate wealth globally from the comfort of their homes. It is also our hope that this partnership will encourage more millennials to explore the world of investing in order to build a future of realised ambitions,”

 

This new round of funding is Trove’s second as the fintech previously raised an undisclosed amount from Nigeria-based VC, Ventures Platform less than a year ago. Currently, Trove app has over 1000 downloads on Playstore. The startup hopes to continue its growth in Nigeria with this funding.

 

 

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