EMFATO Holdings (owners of Farmcrowdy and investors in Plentywaka) has announced the exit of one of its portfolio companies – Crowdyvest, following up on new investments into the startup to grow as a digital savings company in Nigeria.
Farmcrowdy has in the past worked with Crowdyvest to crowdfund for farming projects. Following this change, Farmcrowdy has now fully exited the crowdfunding space and Crowdyvest will begin to operate a closed-community model for savings.
Launched just 1 year ago, Crowdyvest has over 10,000 members who have seen opportunities to sponsor projects through its platform previously led by its Co-founder & CEO, Onyeka Akumah.
However, this new investment in Crowdyvest will see Tope Omotolani, who was the Managing Director of the company, take over the leadership of the startup from Onyeka Akumah in a bid to scale up as a digital savings company.
Watch the video below where Onyeka Akumah and Tope Omotolani explain the change in leadership, how it affects Farmcrowdy, and what to expect from the all new Crowdyvest.