Asuqu, an online platform that allows people hire professional freelancers in Nigeria, recently secured seed funding.
News of the investment was revealed by the founder of the platform, R. Josh Musah.
The investment, which was secured from local-duo investors based in Dubai, summed up numerous Skype meetings spanning a period of 8 weeks, until the deal was closed.
While the agreement does not allow the founders disclose the exact amount raised or the names of the investors, Josh nonetheless confirmed the sum to be in the range of 5 figures with denomination in US dollars.
Asuqu might not be the kind of service you hear of everyday. But the investment will allow the founder improve on the product and build other complimentary products; like Asuqu marketplace, Asuqu Elite and Asuqu SME.
The startup will be implementing its plans to build a proper market structure and gain market trust over the next two quarters of 2017. Within the time as well, the focus will also be on increasing revenue.
Having been in operation in two countries — Nigeria and Rwanda — evidently, the plan to expand beyond that has long been in the pipeline and perhaps this is a good opportunity.
The next six months will be integral in the growth of the startup and it will be interesting to see how things pan out.
Nigerian startups raised $17.6m in Q1 2019, 8.5% higher than they did in Q1 2018. Find out more in the latest quarterly edition of the Nigerian Startup Funding Report here.
Lead Venture Analyst at Techpoint. Eager to tell startup stories that offer Nigerians the much needed creative solutions to relate-able problems. Get in touch.