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ComplyLaunch Customer Spotlight: Treegar

Foreign Exchange

Projected by the World Bank to possibly have one of the highest inflation rates globally in 2022, Nigeria’s volatile exchange rate and rising inflation pose a challenge to residents as they try to maintain their purchasing power. The World Bank has identified one of the most vulnerable groups as “those working in sectors with low savings.” A new Nigerian-based startup has recently launched with an aim of helping Africans increase their savings through accessible investment opportunities. 

We caught up with founder Ariyo Raji to learn more.

Introducing Treegar

“Treegar is a mobile application working to democratize investments in Africa. Prior to our offering, the investment options available in the African market were limited, and the ones that were available were not diversified. As an investor, your options were generally restricted to the financial sector or fast-moving consumer goods (FMCG) sector. There was no access to the forward-thinking investment opportunities of big tech, the energy industry, or electric vehicle industry. 

“We changed this with Treegar. A lot of US investment mobile apps have blockers in place that make it difficult for Africans to use them. With Treegar, we have made the same investment opportunities that are available in the US available to the African investor market, without the need to provide information specific to US citizens, such as a social security number.” 

Keeping up with the global market

“We started Treegar because we wanted to provide a solution for Africans struggling to manage their finances due to the rising inflation rates. Nigeria is one of the biggest economies in Africa but our inflation rate and Naira to USD exchange rate is extremely volatile. Even shopping on Amazon is near impossible because the exchange rate is so high.

“We saw this as a major problem that needed solving, so I began to look for ways to make more money myself – not in Naira but in a more stable currency that is acceptable across the world. This is when I started to use a lot of investment apps and couldn’t believe that there were only six companies listed on the Nigerian stock exchange, compared to the thousands that are listed in the US. 

“At this time, we were also seeing a lot of Nigerians, and Africans in general, moving to the US for better opportunities. So we built Treegar as a way to make these opportunities more readily available to the African market and move one step closer towards investment democratization.”

Proudest moment so far

“We now have a working product and we’re so proud to launch in Nigeria on April 1, 2022. It is amazing what our early adopters have to say about us and it gives us validation that we are on the right track. See what early users are saying about us on our website.”

What’s next for Treegar?

“The next steps for Treegar fall under two categories – geographical expansion and product expansion. We want to expand across Africa and we want to do it fast. We will be expanding into more West African and East African countries in the next few quarters.

“We will also be expanding our product offering as we expand into new markets. Some value-added features will include cryptocurrency trading and social investing. We will revolutionize the space by pushing innovative features to further democratize access to global investing from Africa.”

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Follow Treegar:

Website 

Instagram

Facebook 

LinkedIn 

 

Projected by the World Bank to possibly have one of the highest inflation rates globally in 2022, Nigeria’s volatile exchange rate and rising inflation pose a challenge to residents as they try to maintain their purchasing power. The World Bank has identified one of the most vulnerable groups as “those working in sectors with low savings.” A new Nigerian-based startup has recently launched with an aim of helping Africans increase their savings through accessible investment opportunities.  We caught up with founder Ariyo Raji to learn more.

Introducing Treegar

“Treegar is a mobile application working to democratize investments in Africa. Prior to our offering, the investment options available in the African market were limited, and the ones that were available were not diversified. As an investor, your options were generally restricted to the financial sector or fast-moving consumer goods (FMCG) sector. There was no access to the forward-thinking investment opportunities of big tech, the energy industry, or electric vehicle industry.  “We changed this with Treegar. A lot of US investment mobile apps have blockers in place that make it difficult for Africans to use them. With Treegar, we have made the same investment opportunities that are available in the US available to the African investor market, without the need to provide information specific to US citizens, such as a social security number.” 

Keeping up with the global market

“We started Treegar because we wanted to provide a solution for Africans struggling to manage their finances due to the rising inflation rates. Nigeria is one of the biggest economies in Africa but our inflation rate and Naira to USD exchange rate is extremely volatile. Even shopping on Amazon is near impossible because the exchange rate is so high. “We saw this as a major problem that needed solving, so I began to look for ways to make more money myself - not in Naira but in a more stable currency that is acceptable across the world. This is when I started to use a lot of investment apps and couldn’t believe that there were only six companies listed on the Nigerian stock exchange, compared to the thousands that are listed in the US.  “At this time, we were also seeing a lot of Nigerians, and Africans in general, moving to the US for better opportunities. So we built Treegar as a way to make these opportunities more readily available to the African market and move one step closer towards investment democratization.”

Proudest moment so far

We now have a working product and we're so proud to launch in Nigeria on April 1, 2022. It is amazing what our early adopters have to say about us and it gives us validation that we are on the right track. See what early users are saying about us on our website.”

What’s next for Treegar?

“The next steps for Treegar fall under two categories - geographical expansion and product expansion. We want to expand across Africa and we want to do it fast. We will be expanding into more West African and East African countries in the next few quarters. “We will also be expanding our product offering as we expand into new markets. Some value-added features will include cryptocurrency trading and social investing. We will revolutionize the space by pushing innovative features to further democratize access to global investing from Africa.” [cta_card title="Are you an early stage FinTech and need a KYC and AML solution?" cta_img="60243" category="" bodytext="Ready your start-up for scale with free access to our transaction monitoring and customer screening tools through ComplyLaunch." cta_text="Register for ComplyLaunch today" cta_url="https://complyadvantage.com/complylaunch/#enquire"]

Follow Treegar:

Website  Instagram Facebook  LinkedIn   

Originally published April 22, 2022, updated September 9, 2022

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