Crypto exchange platform Mara raises $23 million

Crypto exchange platform Mara raises $23 million
Photo by Jeremy Bezanger / Unsplash

Mara, a crypto exchange platform based in Nigeria and Kenya has raised $23 million to build a pan-African cryptocurrency exchange platform.

  • Mara is building a decentralized alternative for transactions in Africa through its digital financial system.
  • The startup operates with a product suite including Mara wallet, an app that offers crypto-related buying and selling, Pro-Exchange, a platform for trading options and technical analysis and Mara Chain, a token-enabled blockchain that allows developers to build African-focused crypto apps.
  • The startup has secured a partnership with the Central African Republic, the only African country that accepts crypto as a legal tender and will advise the president on planning and strategy for cryptocurrencies.  
  • The funding came from Coinbase Ventures, Alameda Research (FTX), Distributed Global, TQ Ventures, DIGITAL, Nexo, Huobi Ventures, Day One Ventures, and Infinite Capital among others.