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By Sunday Ani
A new global investment platform, Treegar, which enables users to buy and sell local and U.S stocks directly from their mobile phones starting with $1 has been launched in Nigeria.
Co-founder, Ariyo Raji said the company was on a clear mission to provide access to global financial markets in the most seamless and cost effective way possible to Africans; even as he noted that the investment trading platform gives users access to NASDAQ, the New York Stock Exchange (NYSE) and the Nigerian Stock Exchange, ultimately giving access to over 8000 stocks.
“Starting from today, with as little as $1, anybody with a Bank Verification Number (BVN) can simply tap and invest; it’s that easy,” he added.
Still on the launch, Raji said: “Treegar is not just an investment platform; we want to make investing a lifestyle for Africans. We will continue to innovate and push out value-added offerings that drive financial literacy, wealth generation, and build the culture of investing in Africa.”
He also stated that Treegar was already concluding plans to roll out in Kenya, Uganda and Democratic Republic of Congo (DRC) in the coming months.
He noted that as a regulatory compliant company, Treegar has partnered with Alpaca, a United States based broker in global digital trading, a member of Financial Industry Regulatory Authority (FINRA) and regulated by Securities and Exchange Commission (SEC).
On how secure the platform is another Co-founder and Chief Executive Officer (CEO), Ayo Ogunlowo, assured that the major compliance and technical requirements have been incorporated in partnership with secured payment gateways, proven identity verification companies and a host of other anti-money laundering entities. “Also, each United States stocks trading account is insured up to $500,000 by the SIPC,” he added.
Adducing reason building the platform, Ariyo noted that even though the world is becoming a global village, it isn’t entirely true for the investment space. “Economies within and outside Africa have localized exchanges with limited cross-border access, making the developing economies in Africa unable to seamlessly access global investment options and vice versa. Our mission is to provide access to financial markets in the most seamless way possible to everyone,” he said.
