Crowdyvest Scraps Crowdfunding after Securing major Investment

Crowdyvest has refocused its business model by scraping its crowdfunding platform which, until now, was its major funding source. The move followed the company’s announcement that it had recently secured new investments from a group of investors led by Tope Omotolani.

As part of the business remodeling, Crowdyvest was also separated from the agritech group, Farmcrowdy, and formed into an independent business entity. It will be headed by Omotolani who will serve as the Chief Executive Officer.

Meanwhile, Crowdyvest has also launched Crowdyvest Savings Platform and is poised to provide Nigerians with various savings options.

In a press statement that was seen by Business Elites Africa, Omotolani was quoted to have expressed excitement over her appointment to lead the company during this next phase of its expansion.

“It’s an honour and a privilege for me to be able to lead the team to the next level and next chapter of the business. Onyeka founded this company on the ethos of integrity and strong customer satisfaction and I’m grateful for the opportunity to continue to lead this technology company into its next chapter. Our major goal and focus as Crowdyvest is that we see a lot of people become financially free and we’re able to do this by the products that we create on the platform.”

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Onyeka Akumah, who co-founded Crowdyvest in 2019 and currently serves as the Chief Executive Officer of Farmcrowdy, gave more insight into the recent investment and how it has helped the startup to scale.

“Today, Crowdyvest is exiting fully from EMFATO Holdings and we are very happy about the new investors led by Tope, and excited to see how Tope will lead this business to new heights. I will now focus more on leading Farmcrowdy and Plentywaka as CEO of both companies into new markets in 2021.

“Tope is a strong and amazing leader and I see her leading Crowdyvest to become one of the leading wealth management companies in Nigeria within the next 3-5 years. I wish her and the team all the best and will continue to advise them on their journey when needed.”