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Tag: Trove Finance

  • Trove Finance, JumiaPay Nigeria simplify investing

    Trove Finance, JumiaPay Nigeria simplify investing

    Trove Finance, a Nigerian investment platform, and JumiaPay, a digital payments and fintech platform, have announced a partnership.

    This partnership enables Trove’s customers to leverage JumiaPay to fund their investment accounts, providing a seamless and convenient way to manage their investments.

    Due to JumiaPay’s integration as a payment partner, Trove customers can now fund their investment accounts more easily without having to exit the app or sign in to another website.

    The CEO of Trove, Oluwatomi Solanke, said, “We’re happy to work with JumiaPay to make it easier for our customers to fund investments. We think that by working together, we will be able to give our users a more convenient, safe, and smooth experience while investing in our platform.”

    The company says that users can now make investments easily with just a few clicks. Customers can also set up recurring investments through Trove’s connection with JumiaPay, which gives them more control over their investment journey.

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    JumiaPay offers rapid payment solutions

    JumiaPay is a Payment Solutions Service Provider (PSSP) licensed by the Central Bank of Nigeria. It works with businesses to make payments easier, faster, and safer. It also helps companies grow by giving them free add-ons for marketing and visibility.

    The partnership is a big step forward for both companies because Trove can use Jumia Pays large customer base to get more exposure, and JumiaPay can offer investment funding, which is important for Nigerians who want to build their wealth through investments.

    Customers of JumiaPay would also be able to use the Trove ecosystem without leaving the JumiaPay website. A rise in Trove’s online reach and more value for people who use JumiaPay.

    “Our goal at JumiaPay is to make payments simpler, faster, and safer for everyone. We’re happy to work with Trove to make it easy for Nigerians to invest.” This partnership shows that we are committed to giving our customers a full financial ecosystem,” said Adedamola Giwa, managing director of JumiaPay Nigeria.

    About Trove Finance


    Trove Finance, a financial app, was established in 2018. Using the app, Nigerians can make micro investments in financial instruments anywhere in the world. Users of the programme can invest in bonds, cryptocurrencies, and stock markets, including those for Chinese, US, and Nigerian equities.

    Trove Finance simplifies the process of buying and selling stocks by establishing a connection between the users’ respective bank records.

    Trove Finance is a big help with all of these problems. It gives Nigerians more freedom and lets people trade in stock markets like the NSE, NYSE, Nasdaq, and even the Shanghai Stock Exchange.

    With as little as N1,000, Nigerians, both the rich and the middle class, can invest in global stock markets with ease.

    Trove Finance works with a number of companies, such as Paystack, Verve, 213 Capital, Visa, and Mastercard, to ensure market access. Importantly, the app works with Sigma Stocks Limited, a company that is registered with the SEC and a member of the NSE, to let people trade stocks.

  • How You Can Own Shares in Apple, Amazon, Facebook The Trove Finance Way

    How You Can Own Shares in Apple, Amazon, Facebook The Trove Finance Way

    Gone are the days when owning shares in big tech companies was considered a privilege opened to people with deep pockets. Well, not anymore. Trove Finance, a Nigerian micro-investing platform, sets out to democratize wealth, allowing individuals with little to own stocks in big companies like Apple, Facebook, Amazon, and the likes.

     

    Technology that Empowers Traders 

    The co-founder and CEO of Trove Finance, Oluwatomi Solanke, highlighted that Trove had built technology enabling individuals and financial institutions to access and trade in global securities.

    According to Solanke, Trove has built mobile and web platforms that allow over 200,000 Nigerians to trade stocks of well-known companies like Amazon, Facebook, and Google. He claims that these companies allow traders to own global companies from the convenience of their mobile devices by enabling them to buy shares in small increments.

    Trove has built APIs that permit financial institutions like banks, broker-dealers, and asset managers to provide their customers the same ability to own some of the most well-known brands in the world.

     

    Promoting Financial Literacy With Trove University

    The stocks of well-known brands including Netflix, Dangote, Apple, Facebook, Jumia, and Twitter are traded on Trove. According to Solanke, the company also promotes financial literacy through Trove University, an app that teaches traders the basics of global trading and investment.

     

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    He further said that those with very little money could trade global stocks for as little as N5,000 and Nigerian stocks as low as N1,000. He claimed that Trove helps individuals and companies own stock in US, Chinese, and Nigerian companies.

    Trove is helping young Nigerians, especially students, to make money as they trade in globally renowned stocks, Solanke said. He stated that the company is blazing the trail on the African continent, being the first fintech firm to allow people access to what was before now considered an elite privilege.

    While some banks in Nigeria offer higher interest rates to customers who save money with them, other banks only exist to make profits and post eye-catching figures at the end of the fiscal year.

    A regulatory body like the Central Bank of Nigeria (CBN) has established a minimum interest rate of 1.5%.