Startup News

Crowdyvest Holdings Renamed EMFATO Holdings, Identifies Tech Solutions for Global Development

EMFATO Holdings - cfamedia

Lagos based investment company, Crowdyvest Holdings has announced a change of name to ‘EMFATO Holdings’ with immediate effect.

The investment company which is building technology solutions that meet the United Nations 17 Sustainable Development goals in different sectors will commence its operation under the new name.

In 2019, Onyeka Akumah along with his co-founders identified diverse opportunities in various high-impact industries leveraging technology to create solutions for Nigerians with the potential to scale across the continent.

This development led to Crowdyvest Holdings (CVH) establishment to make an investment in such business opportunities.

Ever since then, CVH has launched or rather invested in two portfolio firms:

Crowdyvest – a fintech startup focused on financing impact-driven opportunities, and Plentywaka– a trans-tech startup focused on changing the way people get around in Nigeria’s major cities starting with buses.

Both startups joined Farmcrowdy which was the first portfolio company of CVH and formerly led by Kenneth Obiajulu.

Sometimes in June 2020, news has it that Kenneth Obiajulu left Farmcrowdy after reaching a mutual agreement.

This development has seen Onyeka Akumah, the founder, return as Chief Executive Officer to lead Farmcrowdy into the next chapter of its growth.

Crowdyvest Holdings now EMFATO Holdings will now focus on the provision of the required support for its’ portfolio businesses while identifying new businesses that will build tech solutions to power collaborative developments within Nigeria, Africa, and across the world.

The company, however, noted that the name change will in no way alter the operations of the company and its portfolio firms.

Each of the portfolio companies under EMFATO Holdings has applied innovative thinking to impact the lives of individuals across the globe.

This portfolio of businesses are now focused on Fintech, Transtech and Agtech including:

Fintech

Crowdyvest is the leading crowdfunding startup in Nigeria using a fintech model to connect over 85,000 active users and 7,000 active sponsors with impact-driven opportunities in partnership with other technology companies.

Crowdyvest team celebrating World Women’s Day 2020

The startup led by its Co-Founder and Managing Director – Tope Omotolani along with 12 team members, recently launched a new website and mobile app with features such as an e-wallet for sponsors, pooled sponsorship as well as a revamp of the project sponsorship experience.

Transtech

Plentywaka is the first bus-hailing company in Nigeria that reached 100,000 riders in 6 months of launch.

The startup is currently led by its Co-Founder & Managing Director – Ena Johnny and a team of 26.

Plentywaka team celebrating 100,000 rides in March 2020

The startup recently launched a logistics arm and has over 38,000 active users completing an average of 1,400 rides daily after the COVID lockdown.

Agtech

Farmcrowdy is the first portfolio company from EMFATO Holdings and the agtech startup is now led by Onyeka Akumah with a team of 45 focused on using technology to boost the food value chain.


Farmcrowdy team at its mid-year conference in June 2019

Farmcrowdy has moved away from its original model of crowdfunding for agriculture to grow into the business of using technology for Agriculture with a farmers network of 116,000 individuals across 16 states in Nigeria.

Farmcrowdy services now include Farmcrowdy Structured Finance, Farmcrowdy Aggregation (with 101 centers nationwide), Farmcrowdy Foods (with Bestfoods and Meathub), Farmcrowdy Insurance, Farmcrowdy Marketing Services, and Farmcrowdy Tech & Data.


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