Bamboo is an investment platform that allows Nigerians to invest in foreign stocks, primarily from the United States stock market, such as Apple, Amazon, and Tesla, among others.
It enables users to diversify their investment portfolios beyond Nigerian stocks into global markets.
Through a X post, Bamboo has announced commencement of operation in South Africa. "New in South Africa! Introducing Bamboo: The Modern Way to Invest in the U.S. Stock Market!" - the company cited.
Bamboo works in a way that allows users to invest in United States stocks directly and seamlessly through their smartphones.
Bamboo in South Africa is made possible through obtaining a Financial Services Provider (FSP) Licence from the South African Financial Sector Conduct Authority (FSCA).
In the X announcement, Bamboo explain how difficult it is to invest in stock from South Africa. "Investing in South Africa has never been easier." However, the platform is making stock investment easy.
You can simply download the Bamboo app on your app store in SA, then follow the instructions to register an account and start your stock investing journey.
Bamboo recent entries to South Africa makes it three African countries including Nigeria and Ghana the online stock investment platform is currently operating in.
Founded in 2019 by Bassey and Yanmo Omoregbe, Bamboo simplifies investment across various asset classes, offering Nigerians tools to select stocks and ETFs that align with their financial goals.
The startup focuses predominantly on US stocks, catering to about 75% of its clientele, and provides educational resources to support investment decisions and achieve fixed returns.
In early 2022, Bamboo secured $15 million in Series A funding, led by Greycroft and Tiger Global. This funding aims to propel Bamboo's expansion into new markets, introduce additional products, and support its growing user base, which now exceeds 500,000 registered investors.