Co-founder and Managing Partner at Microtraction, Yele Bademosi recently moved to cryptocurrency exchange, Binance as director of Binance Labs.
Suggested Read: Yele Bademosi of Microtraction goes to Binance
Following the move, the question is; what happens to Microtraction now?
After a formal announcement and launch in June 2017, the investment company was quite busy with investments in its first 3 startups; financial services startup CowryWise, Bitkoin Africa, and edtech startup AllPro.
And according to portfolio displayed on the Microtraction website, there are some other startups it has invested in so far; ThankUCash, Riby, Accounteer and Wallet.ng.
In conversation with Techpoint, Yele said they have decided to not reveal too much at the moment. He however assured us things are sailing smooth at the investment house.
“The key message is that we’re transforming our partnership and organisation structure, that will allow Microtraction to continue to thrive even with my recent announcements. Microtraction was never a one man show and my partners and team are excited about the next phase of Microtraction,” he said.
Yele went on to say there will be “exciting Microtraction focused announcements in the coming weeks”.
Nigerian startups raised $55.4m in Q1 2020; over 99% of which came from foreign sources. Find out more when you download the full report.
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