Chaka: Story, Founders, Investors & Funding Rounds

Chaka is a platform that provides tech services, marketing, customer service, and operations to brokers on behalf of their customers.

 It provides unrestricted access to more than 4,000 stocks trading on capital markets and is fully licensed by the SEC.

Tosin Osibodu, while in the U.S., recognized this problem and returned to Nigeria to start Chaka, officially launching the company in 2019. 

Chaka wanted to create opportunities for Nigerians to invest in dollar assets and at the same time allow foreigners to invest in Nigerian assets.

For the most part, Chaka has executed on one front. The platform gives Nigerians access to more than 10,000 stocks and ETFs trading on local and foreign capital markets.

Chaka’s local assets are registered with the Nigerian Stock Exchange (NSE), and Central Securities Clearing System (CSCS) and regulated by the Securities Exchange Commission of Nigeria (SEC). 

Dollar assets, on the other hand, are regulated by the U.S. FINRA and the U.S. SEC.

Aside from Chaka’s traditional stock trading app for retail investors, it also offers Chaka SDK, which allows asset managers and financial institutions to offer digital investments, and Chaka for Business for direct business onboarding and trading tools for institutional investors.

How it Works

Chaka is a property of Chaka Technologies Limited, a company duly registered with the Corporate Affairs Commission, Nigeria. 

Chaka is the platform implemented by Chaka Technologies Limited to provide marketing, customer service, operations, and technology services to brokers on behalf of their customers. Chaka Technologies Limited is a legal entity in Nigeria.

To ensure regulatory compliance, proper market behavior, and the security of investors, all brokerage investments are facilitated by Citi Investment Capital Limited, a licensed Nigerian stockbroking firm registered with the Securities and Exchange Commission Nigeria (SEC). 

Customers registered with Chaka will perform Verification before being able to participate in the securities markets or make investments.

All international investing services including fractional trading provided to Chaka users are facilitated by DriveWealth LLC, a regulated member of FINRA/SIPC. 

Drivewealth is a member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). 

Carefully consider your investment objectives and the risks, charges, and expenses involved in investing in the Nigerian and International stock markets. 

It’s important to note that in the same way, profits can be made in the markets, losses can be made as well. 

In light of the risks involved, you should undertake transactions only if you understand the nature of the relationship into which you are entering and the extent of your risk exposure. 

You must know and appreciate that trading in Equity shares or other instruments traded on the Stock Exchanges, which have varying elements of risk, is generally not an appropriate avenue for someone with limited resources/limited investment and/or trading experience and low-risk tolerance. 

You should therefore carefully consider whether such trading is suitable for you in light of your financial condition.

All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns. 

Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against loss in a down market. 

There is always the potential of losing money when you invest in securities or other financial products. 

Investors should consider their investment objectives and risks carefully before investing.

Investors should also be aware that system response, execution price, speed, liquidity, market data, and account access times are affected by many factors, including market volatility, size and type of order, market conditions, system performance, and other factors.

Chaka makes no warranties or representations, express or implied, on products and services offered through the platform.

It accepts no liability for any damages or losses, however, caused in connection with the use of related services.

As a business, they do not give stock tips, recommendations, or provide any advisory services. They have not authorized anyone to trade on behalf of others. 

Third-party information provided for product features, communications, and communications emanating from social media communities, market prices, data, and other information available through,,, or Chaka Technologies Ltd are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction.

The information provided is not warranted as to completeness or accuracy and is subject to change without notice.

Additionally, all logos and trademarks belong to their respective legal owners.


Tosin Osibodu

tosin osibodu

Tosin Osibodu is the Co-Founder and CEO at Chaka Technologies.

Investors & Funding Rounds

Breyer Capital, 4DX Ventures, Golden Palm Investments, Future Africa, Seedstars, Musha Ventures

Chaka has secured $1.5M pre-seed after bagging the country’s first SEC license.

The pre-seed round was led by Breyer Capital, while 4DX Ventures, Golden Palm Investments, Future Africa, Seedstars, and Musha Ventures participated. It’s the second joint deal for 4DX Ventures and Breyer Capital in the space of two weeks; the first was in the Egyptian social e-commerce platform Taager.

The company will use its pre-seed investment to expand its footprints to Ghana and other West African markets.

Improving its technology and services and securing partnerships with major financial institutions, including apex ones, is also a priority.

Main Competitors

DSTOQ: Making investing accessible and affordable for people in emerging markets.

Vested Finance: This is an online investment platform that develops an avenue for Indian investors to invest in the U.S. stock market.

Miren: It is an end-to-end lending software company for community development financial institutions.


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