Business

Firm restrategises for tech solution business

Crowdyvest Holdings, an investment company based in Lagos, established to build technology solutions that meet the United Nations 17 Sustainable Development Goals (SDGs)) in different sectors will begin operating under a new name, EMFATO Holdings, by identifying new businesses that will build tech solutions to power collaborative developments within Nigeria, Africa, and the world.

The firm has also announced the appointment of Onyeka Akumah as its new Chief Executive Officer to run the day-to-day affairs of the company and take it to new levels. In a statement made available to New Telegraph and signed by EMFATO Holdings management in Lagos, the company explained that change of name would not affect the affairs of the company as well as its portfolio companies in its bid to achieve the United Nations 17 Sustainable Development Goals (SDGs)) in different sectors. Speaking on the new name, the Chief Executive Officer of EMFATO Holdings, Onyeka Akumah, explained that each of the portfolio companies under EMFATO Holdings had applied innovative thinking to impact the lives of individuals across the globe, adding that these portfolio of businesses are now focused on fintech, transtech and agtech.

He described Crowdyvest as the leading crowdfunding startup in Nigeria using a fintech model to connect over 85,000 active users and 7,000 active sponsors with impact-driven opportunities in partnership with other technology companies. The statement said: “In 2019, Akumah along with his co-founders identified various opportunities in different high-impact industries using technology to create solutions for Nigerians with the potential to scale across Africa. This led to the establishment of Crowdyvest Holdings (CVH) to invest in such business opportunities and CVH has since launched or invested in two portfolio companies, Crowdyvest – a fintech startup focused on financing impact-driven opportunities, and Plentywaka- a trans-tech startup focused on changing the way people get around in Nigeria’s major cities starting with buses. Both startups joined Farmcrowdy which was the first portfolio company of CVH and formerly led by Kenneth Obiajulu. “In June 2020, it was learned that Kenneth Obiajulu reached a mutual agreement to leave Farmcrowdy, while it’s founder, Onyeka Akumah, has now returned as Chief Executive Officer to lead Farmcrowdy into the next chapter of its growth.

“The startup led by its Co- Founder and Managing Director – Tope Omotolani along with 12 team members, recently launched a new website and mobile app with features such as an e-wallet for sponsors, pooled sponsorship as well as a revamp of the project sponsorship experience. “Plentywaka is the first bushailing company in Nigeria that reached 100,000 riders in 6 months of launch. The startup is currently led by its Co-Founder & Managing Director – Ena Johnny and a team of 26. The startup recently launched a logistics arm and has over 38,000 active users completing an average of 1,400 rides daily after the COVID lockdown.”

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