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Equity funding portal launches in Lagos

02 December 2015, 11:34

Lagos - A new equity crowd funding portal has been launched to enable entrepreneurs in Nigeria and the continent raise finance.

The portal, Malaik, encourages high impact investing in African businesses and offers opportunities for investors to participate in Africa's growth story.

It follows the realisation small and medium enterprises (SMEs) are the primary job creation engine in Africa, accounting for over 95 percent of firms and 60 percent-70 percent of employment. Yet, SME's on the continent report access to finance as the biggest obstacle to growth.

“Young companies all over Africa face a scarcity of funds to fuel their growth,” Neku Atawodi, Founder of Malaik, said in Lagos.

“Apart from banks and occasional angel investors, there is often nowhere to turn. Malaik is turning this crisis into an opportunity for startups and investors alike by offering stakes in young African companies to the crowd. Our unique impact tracker means that investors can track their investments impact on the platform.”

Also Read: Lagos students commemorate UN milestone

The platform uses a unique system of first identifying a lead investor before putting a company on the platform.

The lead investor sets the terms and valuations of the deal, and personally invests a minimum of 25 percent of the companies' asking round.

The lead investor negotiates a fair valuation and is required to conduct their own due diligence before putting their money in. A lead investor may be an individual investing alone, or a representative for an investing group or institution.

The crowd receives the same class of share, and the same price per share, as the lead investor, except indicated otherwise.

Companies listed on Malaik decide how much money they want to raise in exchange for a certain percentage of equity, and each investor's equity interest is proportionate to the size of their investment.

Malaik will focus on high-impact companies that provide jobs and solve social and infrastructural issues in African nations while maintaining profitability.

The global portal will fund seed stage businesses requiring funding between $200 000 to $2 million. 

- CAJ News


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