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PennyTree, a prominent Nigerian financial technology (Fintech) company, has successfully obtained a crowdfunding license from the Securities and Exchange Commission (SEC) of Nigeria, reinforcing its influential position within the Nigerian Fintech sector.
Abayomi Ogunjobi, Co-Founder & Director at PennyTree, highlighted the significance of the new license, considering it a major milestone in PennyTree’s mission to revolutionize access to capital and financial services for individuals and businesses across Nigeria.
The acquisition of the Crowdfunding License underlines PennyTree’s commitment to nurturing a transparent and inclusive funding ecosystem, aiming to support and empower entrepreneurs and projects nationwide.
Equipped with the SEC Crowdfunding License, PennyTree gains the regulatory framework and authorization to operate a crowdfunding platform connecting investors with businesses and startups seeking capital.
This innovative platform opens avenues for entrepreneurs to tap into a wider pool of potential investors, facilitating a streamlined process for investors to diversify their portfolios by participating in promising ventures.
Expressing enthusiasm about the obtained license, Abayomi Ogunjobi, Co-Founder & Director at PennyTree, stated,
“We are thrilled to have received this Crowdfunding License from the SEC. This milestone represents a significant step towards our vision of democratizing access to finance in Nigeria. With this license, PennyTree can now create a secure and compliant platform that will make it easier for our merchants and entrepreneurs to secure the funding they need to grow their businesses, while also providing investment opportunities for individuals.”
The Crowdfunding License granted by the SEC acknowledges PennyTree’s dedication to meeting regulatory standards and ensuring the security of its crowdfunding platform.
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