SecondSTAX allow broker-dealers, asset managers, pension funds, and institutional investors to access markets outside their own country, is announcing its launch to the public. To bolster its efforts, it has also raised $1.6 million in pre-seed funding from private investors and venture capital firms, including LoftyInc Capital, Orbit54 and STEMeIn.
In 2018, a landmark event tilted his journey into building SecondSTAX. That was the year MTN Ghana, a local telecom operator, went public in the West African country after raising about $237 million.
SecondSTAX provides access to debt and equity securities across multiple African bonds and stock exchanges. Similarly, the B2B capital markets infrastructure platform says it will assist investment firms outside Africa that want to invest in emerging and frontier economies on the continent.
Retail investors within and outside Africa will then be able to access and trade cross-border stocks and bonds via white-labeled apps launched by brick-and-mortar brokers and powered by SecondSTAX or third-party wealth tech apps such as Bamboo, HashApp, Robinhood and Hisa.
The fintech, launched in 2020, is eyeing capital markets in Ghana, Kenya, Nigeria, South Africa, Morocco and Egypt. However, at launch, it will launch in the first two, enabling routing of market orders for all stocks across Ghanaian and Kenyan exchanges and allowing cross-border transactions within both capital markets through its sponsoring broker partnerships.