• Friday, December 08, 2023
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Yele Badamosi steps down as CEO of crypto platform

Yele Badamosi steps down as CEO of crypto platform

Yele Badamosi has stepped down as the CEO of Bundle Africa and will now focus his energy on driving the adoption of digital currency across Africa.

Badamosi was the founding CEO of Bundle, a crypto platform that launched last year with a $450,000 seed backing from Binance, the global cryptocurrency exchange. In his absence, Emmanuel Babalola, current director of Binance Africa would be stepping in as interim CEO.

Before Bundle, Badamosi had been the director of Binance Lab, a social impact fund and initiative to incubate, invest, and empower blockchain and cryptocurrency entrepreneurs and projects. He ran the Lagos chapter of the Incubation program as Director of Binance Labs, where he helped build tech startups such as Xend, Yellowcard, Bitsika, and Raise to name a few.

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“This chapter in my story really began when I joined Binance in the early days back in 2018. I, like many others, believed that Binance was the best and most aligned ecosystem to grow and scale the crypto adoption in the continent,” Badamosi said.

Beyond Binance and Bundle, Badamosi had founded Microtraction, an investment platform that provides seed capital to technology entrepreneurs at the earliest stages of their ventures. He had handed over the reins at Microtraction to Dayo Koleowo. Microtraction which now has an operating fund of $10 million has since increased its portfolio to 23 startups including 54gene, Cowrywise, Chaka, and Buycoins.

With Babalola as successor, Badamosi says Bundle is in good hands.

“Babalola is someone that I trust because we have the same mission and values, and I basically can’t imagine anybody else taking over,” Badamosi said.

While he was CEO of Bundle, the company grew to 350,000 users known as Bundlers facilitated as high as $56 million monthly transaction volumes.