Afrigather Tosin Osibodu, the founding father of Chaka, a Nigerian startup that permits retail buyers to purchase shares from the NYSE and different overseas inventory exchanges, has left the enterprise 5 months after Rise acquired the corporate. Per his LinkedIn web page, Osibodu has joined Alpaca, an organization that develops APIs for buying and selling shares and crypto.
Eke Urum, the founding father of Rise, is the only CEO of the not too long ago merged corporations.
“[Urum] has built-in to construct a sum larger than its elements. I’m actually excited concerning the future roadmap of each entities below his management,” Osibodu mentioned in a LinkedIn post.
Urum, who launched himself to Chaka customers as the brand new CEO a couple of weeks in the past, instructed TechCabal that Osibodu continues to be a shareholder within the firm and can proceed in an advisory function.
“Earlier than he transitioned to Alpaca, we went via a course of throughout which he regularly handed over the day-to-day decision-making of Chaka to me,” Urum instructed TechCabal. Urum says he’s additionally properly supported by former workers of Chaka. “One among them is primarily driving operations with me.”
Each founders previously told TechCabal that whereas Chaka’s possession and cap desk can be up to date, its merchandise will stay separate. Osibodu’s departure raises questions relating to whether or not Chaka and RiseVest will proceed to stay separate merchandise or merge.
Chaka was based in 2019 to permit customers to purchase shares of publicly traded corporations in Nigeria and the USA for as little as $2. It grew to become the primary buying and selling startup to obtain a digital sub-broker licence in March 2021.
As Govt Director of Gross sales for Alpaca, Tosin Osibodu can be working to deepen Alpaca’s footprint in Africa, the Center East, and Europe. The agency presently powers over 130+ investing companies for neobanks and wealthtechs. “We hope {that a} three-way partnership [with Rise, Chaka, and Alpaca] will come out of this new working relationship,” Urum instructed TechCabal.
