The platform enables South Africans to invest in globally listed U.S. stocks through fractional investing, starting from as little as R150 [approximately US$8.46], removing traditional barriers that have long excluded everyday investors from international markets.

As South Africans increasingly seek ways to hedge against rand volatility and diversify their portfolios beyond local markets, Bamboo arrives at a pivotal moment.

The platform addresses growing frustration with traditional investment platforms that require high minimum investments, complex processes, and limited access to global opportunities.

“We’re witnessing a fundamental shift in how Africans approach wealth building, and South Africa represents a critical market for financial inclusion,” said Yanmo Omorogbe, co-founder & Chief Operating Officer at Bamboo. “South Africans are sophisticated investors who understand the importance of global diversification, but they’ve been underserved by existing platforms. Bamboo changes that narrative by making dollar-based investing accessible, educational, and transparent. Now is the perfect time to democratise access to the world’s most robust markets.”

Breaking Down Investment Barriers

Bamboo’s fractional investing model allows users to purchase portions of shares in major U.S. companies, making it possible to build a diversified portfolio without the substantial capital traditionally required.

This approach is particularly valuable for middle-income earners, young professionals, and first-time investors who want exposure to global markets but have been priced out by conventional platforms.

The platform provides access to well-known U.S. companies, offering South African investors exposure to more stable, high-performing global markets.

This global diversification can help protect wealth from local economic volatility that have historically impacted rand-based investments.

Education-First Approach

Recognising that many South Africans are new to international investing, Bamboo has built education into the core of its platform.

The app offers a comprehensive list of educational content, and intuitive tools designed to support both novice and experienced investors.

This educational approach aligns with Bamboo’s broader mission to promote financial literacy and empowerment across Africa.

“We believe that financial education is the foundation of wealth building,” Omorogbe continued. “Our platform doesn’t just facilitate transactions – it empowers users with knowledge, helping them make informed decisions about their financial futures.”

Regulatory Compliance and Transparency

As a fully regulated financial institution, Bamboo ensures complete compliance with South African tax laws and regulatory requirements.

The company’s commitment to transparency extends to its fee structure and investment processes, ensuring users have clear visibility into their investments and associated costs.

Targeting Financial Inclusion

Bamboo’s South African launch specifically targets aspiring and first-time investors, middle-income earners seeking passive income opportunities, and tech-savvy individuals frustrated by the complexity of traditional investment platforms.

The platform’s low barrier to entry – starting from just R150 – makes it accessible to a broad demographic previously excluded from global investing.

The timing of Bamboo’s launch capitalises on increasing demand for USD-based investments as South Africans seek to protect their wealth against currency volatility and economic uncertainty. By providing easy access to dollar-denominated assets, Bamboo enables users to build wealth in a more stable currency while participating in the growth of global markets.

Bamboo’s user-friendly app is designed to be intuitive and supportive, whether users are complete beginners or experienced investors.

Ensuring retail investors see the fastest trade settlement timelines and the most seamless dividend payment system available in the Nigerian capital markets, Bamboo looks to attract a new type of retail investor who is digitally savvy and expects a seamless user experience in buying Nigerian stocks as they did with U.S. stocks.

To date, most of the active NGX accounts are owned by people who are more than 50 years old. In turn, younger retail investors will be able to benefit from the NGX’s unbeatable financial returns and diversify their portfolios from USD-denominated assets. In 2023, the NGX grew by 45.9% to outpace inflation and outperform the US stock market. In January 2024, the NGX was the world’s best-performing stock exchange and it has returned 31% YTD*.

Commenting on the launch and new partnership, Richmond Bassey, Bamboo CEO and Co-Founder, said, “We’re thrilled to finally launch Nigerian stocks on the Bamboo platform. Among our investors, local stocks are by far the most in-demand asset class and it’s clear why: the NGX delivers outstanding ROI and allows investors to diversify their portfolios. Not only do Nigerian investors understand local stocks better since they use these products and services daily, but they are more affordable and accessible. We’re incredibly proud to play a role in deepening African capital markets, starting with Nigeria.”

Dr. Haruna Jalo-Waziri the Chief Executive Officer of Central Securities Clearing System Plc (CSCS) said “As we witness the launch of Nigerian stocks on the Bamboo platform, we congratulate them on this milestone and will continue to support innovations that enhance investor experience and grow the capital market.”

Mr Tunde Lemo, OFR, the Chairman of Lambeth Capital said “We are thrilled to partner with Bamboo in bringing their innovative trading platform to Nigerian equities. By offering access to Nigerian stocks through Bamboo’s cutting-edge technology, we are empowering retail investors to tap into the immense potential of one of Africa’s largest economies. Together with Bamboo, we are proud to play a pivotal role in unlocking new frontiers for Nigerian investors and fostering the growth of the local capital markets.”

Bamboo makes investing in all types of asset classes easy for Nigerians. The Bamboo app has unique tools that help users pick stocks and exchange-traded funds (ETFs) to meet their investment goals:

• Stock page with real-time price alerts
• Stock comparison page 
• Price movement notifications 
• Watchlist tracking stock performance
• Seamless dividend settlements

The company also offers a wide range of premium investing content and education tools tailored to users new to investing in U.S. stocks which represents nearly 75% of its user base:

• Stock Market Course: an easy-to-understand 19-episode video series that gives the basics on investing in U.S. equities 
• Bamboo Bootcamp: the biggest investment event in West Africa with over 14,000 registered attendees
• Bamboo newsletter and webinars 
• Free premium content at Motley Fool and mywallst.com 

With participation from Motley Fool Ventures, Saison Capital, Chrysalis Capital and Y-Combinator’s Michael Seibel, amongst others, Greycroft and Tiger Global led the series A round for Bamboo.

Bamboo plans to further accelerate its growth, doubling down on unlocking new markets and launching more products with the funds.

Richmond Bassey, Bamboo’s CEO and co-founder said the company’s goal is to give Africans and their asset managers easy, fast and secure access to global investment options that will allow them learn real returns.

“We’re building the technology infrastructure powering financial services in Africa such that if you’re investing in the global capital markets from Africa, you’ll be doing so using Bamboo, directly or indirectly.”

“We also want to make it seamless for African investors in the diaspora to discover the best investment opportunities on the continent. We’re excited about our work with local regulators so far to make this a reality.”

Greycroft partner, Alison Lange Engel noted her delight to support the innovative, user-first approach the Bamboo team is bringing to market.

“Bamboo is enabling Africans to build wealth by creating an investing platform that is helpful to both experienced investors and to those new to the stock market,” she said.

Bamboo was launched as an investment platform in 2020. The company was built on a goal to unlock global markets for Africans by providing real-time access to dollar-denominated assets via its platform. Users can fund with their dollar or local currency balance almost instantly and start investing in stocks.

Having gained over 300,000 accounts in Nigeria, Bamboo affirms that about 20 percent are active daily traders, while 75 percent never traded stocks before using the platform. In 2021, repeat depositors made up 85 per cent of deposits on the Bamboo platform.