About CowryWise
CowryWise is a company based in Lagos (Nigeria) founded in 2017 by Razaq Ahmed and Edward Popoola.. CowryWise has raised $3.69 million across 5 funding rounds from investors including Microtraction, Quona and Tsadik Foundation. CowryWise operates in a competitive market with competitors including PiggyVest, HerVest, Crowdyvest, SumoTrust and KoloMoni, among others.
- Headquarter Lagos, Nigeria
- Founders Razaq Ahmed, Edward Popoola
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Sectors
Technology
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$3.69 M (USD)
in 5 rounds
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Latest Funding Round
$3.46 M (USD), Seed
Jan 28, 2021
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Investors
Microtraction
& 5 more
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Employee Count
Employee Count
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Funding Insights of CowryWise
CowryWise has successfully raised a total of $3.69M across 5 strategic funding rounds. The most recent funding activity was a Seed round of $3.46 million completed in January 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Seed — $3.5M
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First Round
First Round
(01 Dec 2017)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2021 | Amount | Seed - CowryWise | Valuation | Quona | |
| Apr, 2019 | Amount | Seed - CowryWise | Valuation | K50 Ventures |
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| Jul, 2018 | Amount | Seed - CowryWise | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in CowryWise
CowryWise has secured backing from 6 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Microtraction, Quona and Tsadik Foundation. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Fintech investments focused on financial inclusion and global economic growth.
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Founded Year | Domain | Location | |
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Pre-seed and seed-stage investments are targeted by K50 Ventures.
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Founded Year | Domain | Location | |
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Early-stage startups are accelerated via funding and educational programs.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by CowryWise
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - CowryWise
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Cowrywise Comparisons
Competitors of CowryWise
CowryWise operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as PiggyVest, HerVest, Crowdyvest, SumoTrust and KoloMoni, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Savings and investment goals are managed via an online platform.
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| domain | founded_year | HQ Location |
A savings and investment management platform for women is provided.
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| domain | founded_year | HQ Location |
Individuals are enabled to save via an app-based platform.
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| domain | founded_year | HQ Location |
Online platform for savings, investments, and financial education in Nigeria.
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| domain | founded_year | HQ Location |
Microfinance bank providing loans, savings accounts, and digital banking solutions.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Cowrywise
Frequently Asked Questions about CowryWise
When was CowryWise founded?
CowryWise was founded in 2017.
Where is CowryWise located?
CowryWise is headquartered in Lagos, Nigeria. It is registered at Lagos, Lagos State, Nigeria.
Who is the current CEO of CowryWise?
Razaq Ahmed is the current CEO of CowryWise. They have also founded this company.
Is CowryWise a funded company?
CowryWise is a funded company, having raised a total of $3.69M across 5 funding rounds to date. The company's 1st funding round was a Seed of $120K, raised on Dec 01, 2017.
What does CowryWise do?
CowryWise was established in 2017 in Lagos, Nigeria, as a fintech entity focused on personal finance. An online and mobile app platform is maintained for individuals, with services encompassing savings plans, mutual funds, goal-oriented saving options, and portfolio oversight. Long-term objectives such as education, housing, retirement, and weddings are facilitated. The application is accessible on iOS and Android devices, supporting users in the region.
Who are the top competitors of CowryWise?
CowryWise's top competitors include PiggyVest, HerVest and Crowdyvest.
Who are CowryWise's investors?
CowryWise has 6 investors. Key investors include Microtraction, Quona, Tsadik Foundation, Sahil Lavingia, and K50 Ventures.