• Wednesday, July 24, 2024
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Obelix, crowdfunding firm, reiterates commitment to empower SMEs

FG to empower SMEs through new initiative to boost innovation

Obelix, a SEC regulated crowdfunding intermediary, has reiterated its commitment to empower Small and Medium Enterprise (SMEs) businesses, as it marks hundred days since it commenced operations in Nigeria.

According to a statement on Friday, the company said it operated a funding portal, monieworx, enabling three SMEs to raise N100 million from its retail investor community.

The company said the portal has consistently paid interest to investors every Friday in keeping with its proposition of weekly coupon payments. In addition, it is noteworthy that the 30-day and 45-day notes hosted on the portal have been fully redeemed.

“While returns on traditional investments are typically received monthly, quarterly, and sometimes yearly, monitors have introduced weekly interest payments. The increased frequency of payments gives investors’ greater control over their cash flow,” Ali Yakubu, CEO, Obelix, said.

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According to Yakubu, Obelix is an SME financier in Nigeria that recognizes the growing potential of crowdfunding as a transparent and simple financial solution, delivering substantial benefits to the local economy. He said further that crowdfunding enables investors of all economic backgrounds to support worthwhile projects that drive innovation and growth in Nigeria.

“Obelix is proud to announce zero default by the 3 SMEs that raised funds on the portal. This attests to the advantage of investing through regulated crowdfunding portals. Businesses fundraising on Monieworx must go through a thorough vetting process that ensures only the most promising ventures with established and viable business models can secure funding from the growing community of investors on the platform,” Yakubu said.

Obelix said it recently introduced an improved version of the Monieworx web and mobile apps; allowing investors to conveniently view their investment portfolio through a quick-access dashboard that consolidates their account balance, token balance, and income in a single view.

“With this latest upgrade, investors can effortlessly participate in crowdfunding campaigns and manage their investment portfolio more efficiently from the device of their choice. This notable achievement highlights Monieworx’s unwavering commitment to providing user-friendly solutions that adapt to the changing requirements of its users,” said Yakubu.