Grace Ashiru
SecondSTAX, a platform that connects institutional investors, has acquired US$1.6 million in pre-seed funding from LoftyInc Capital, Orbit54, and STEMeIn.
Eugene Tawiah and Duke Lartey started SecondSTAX in 2020 to let investors trade debt and equity assets on several African bonds and stock markets.
Eugene Tawiah, one of the company’s co-founders and CEOs, said, “We expect that in the next 18 to 24 months, the revenue from these clients will start to become more important in terms of getting us out of startup mode and onto a real operational concept that makes real money.”
The company is considering the Egyptian, Kenyan, South African, Moroccan, and Moroccan financial markets.
When it does start, though, it will only be in the first two. Its sponsored broker agreements will make it possible for people to trade across borders in both capital markets, making it easy to route market orders for all stocks across Ghanaian and Kenyan exchanges.
SecondSTAX plans to use the newly acquired funding by the end of this year to expand its footprint on a worldwide scale. In addition, the company intends to increase the size of its workforce and enhance its technology by incorporating more features that customers have requested.
