# Busha Digital

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/busha-digital

- Industry: Financial Services
- Headquarters: London, UK
- Website: www.busha.co
- Total disclosed funding: $4.2M
- Latest round: Seed (Nov 23, 2021)
- Investors on record: 6

## About

Busha Digital Limited is a SEC-licensed cryptocurrency exchange based in Nigeria, providing innovative financial solutions for digital asset management and transactions for individuals and businesses.Founded in 2019, Busha Digital Limited operates as a cryptocurrency exchange, enabling users to buy, sell, and manage digital assets. The company is based in London, UK, with operations focused on the Nigerian market. Michael Adeyeri, a co-founder, serves as CEO, and the company has successfully raised USD 4.2 mn in Seed funding, led by Jump Capital, with participation from other investors. The latest deal occurred on November 23, 2021, bringing the total amount raised to USD 4.2 mn.Busha offers a range of financial solutions including Busha Earn, which allows users to earn interest on dollar stablecoins with an annual percentage yield (APY) of up to 7.5%, providing a means for generating passive income. Additionally, Busha Spend facilitates transactions using digital assets for everyday purchases like airtime and shopping vouchers, while offering instant cashback rewards, thereby enhancing the utility of cryptocurrencies for users and businesses.Busha generates revenue primarily through transaction fees from its services, including earnings from users depositing stablecoins into their Earn wallets and daily interest payments. Users of Busha Spend engage in transactions that generate direct revenue through cashback rewards, fostering repeat usage and customer retention. The company's revenue model combines direct-to-consumer offerings with potential retail partnerships for cashback incentives.Following the Seed funding round in November 2021, which raised USD 4.2 mn, Busha Digital Limited plans to utilize these funds to scale operations across Africa. The company aims to expand its product offerings and deepen market penetration in the continent, targeting new geographic regions. Specific upcoming product launches and timelines have not yet been disclosed, but the focus remains on enhancing its service portfolio to meet the evolving needs of its user base.

## Funding rounds

- Seed, Nov 23, 2021, $4.2M — Jump Capital, Greenhouse Capital, Blockwall Management, CMT Digital, Raba, Cadenza Capital Management

## Investors

- Jump Capital (https://capitalatlas.ai/funds/jump-capital) — Seed
- Greenhouse Capital (https://capitalatlas.ai/funds/greenhouse-capital) — Seed
- Blockwall Management (https://capitalatlas.ai/funds/blockwall-management) — Seed
- CMT Digital (https://capitalatlas.ai/funds/cmt-digital) — Seed
- Raba (https://capitalatlas.ai/funds/raba) — Seed
- Cadenza Capital Management (https://capitalatlas.ai/funds/cadenza-capital-management) — Seed