/Companies

Busha

Lagos, NG · Founded 2019 · 12 known investors

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Busha is an SEC-licensed digital asset exchange app where users buy, sell, and convert Bitcoin, Ethereum, USDT, and 70+ cryptocurrencies with local funding and payout options. It also offers yield/earn features, collateral-based lending through licensed partners, USD accounts, and virtual/physical debit cards, serving over a million users across Africa.

Also known as Busha.io

Founders & leadership

Busha was founded in 2019 by Michael Adeyeri and Moyo Sodipo.

MAMichael Adeyeri
Michael AdeyeriCo-Founder and CEOHe previously led engineering at SureGifts and worked as a software engineer at Jumia Nigeria and a software consultant at UBA Group. Earlier he co-founded Formplus and KraksTV, began his career as an R&D intern at iQube Labs, and later co-founded Yousend.
MSMoyo Sodipo
Moyo SodipoFounderMoyo Sodipo is the founder of Busha, a digital asset exchange platform that enables users across Africa to buy, sell, and trade cryptocurrencies with local funding options. He has prior experience as a founding member of several African-based startups.
MS
Moyosore SodipoCofounder and COO
AO
Adeoye OjoCo-Founder
OS
Olaoluwa Samuel-BiyiCo-founder
BL
Babafemi LawalCo-founder

Investors · 12

Also in the syndicate · 2

CMT DigitalRaba Capital

Funding

SEC filings, press & company announcements

$4.2M disclosed across 1 of 3 rounds · 2021–2026

Source: company announcements and press reports — follow each round's link for the claim.

Company profile

researched Aug 2026

Busha is a Nigerian digital asset platform headquartered in Lagos that operates a consumer mobile app and exchange for buying, selling and converting Bitcoin, Ethereum, USDT and more than 70 other digital assets at local rates. The company describes itself as an SEC-licensed digital asset exchange and, according to secondary coverage, was the first digital asset service provider to receive a provisional license from Nigeria's Securities and Exchange Commission. The platform supports instant local funding through named bank accounts, payouts directly to bank accounts or mobile wallets, and automated trading tools such as recurring buys and limit orders.

Beyond trading, Busha offers optional yield features advertised at up to 18% annual interest on eligible digital assets, with risk disclosure and no guaranteed returns, and collateral-based borrowing delivered in partnership with licensed financial institutions so users can access liquidity without selling holdings. A "Go Global" product set includes a USD account, virtual and physical debit cards fundable with local currency or crypto, bill payments, airtime and shopping vouchers, and cashback paid in Naira. The company advertises 24/7 human customer support and enterprise-grade security. Busha also runs a consumer education site, learn.busha.co, covering cryptocurrency and blockchain basics.

Secondary coverage describes a January 2026 brand refresh in which Busha repositioned from a crypto-focused exchange to a broader digital money app, adding local-currency savings and asset-backed loans, with a phased rollout beginning in Nigeria and planned expansion into further emerging markets.

Founding story

Secondary coverage reports that Busha was founded in 2019 in Lagos by Michael Adeyeri (CEO) and Moyosore Sodipo (COO) together with Adeoye Ojo, Olaoluwa Samuel-Biyi and Babafemi Lawal, motivated by financial exclusion in emerging markets, inflation eroding savings and the cost and slowness of cross-border payments. One account describes Adeyeri and Sodipo as early employees of the e-commerce company Jumia before starting Busha.

Business model

Busha operates a consumer-facing digital asset exchange and money app, monetizing trading of 70+ cryptocurrencies alongside adjacent financial products including interest-bearing savings on eligible digital assets, collateral-backed loans provided with licensed partners, USD accounts, virtual and physical debit cards, bill payments and voucher purchases. It also serves businesses, with stablecoin infrastructure positioned for treasury management, payments and cross-border transactions.

Revenue is associated with digital asset trading and conversion at local rates, card and USD account spending, and adjacent financial services such as savings, lending and bill payment/voucher transactions; the company advertises low fees.

Traction

The company reports more than 1 million users and hundreds of business customers, with app store ratings of 4.6 stars across 5,000+ App Store reviews and 4.5 stars across 11,000+ Google Play reviews. Secondary coverage states that by late 2021 Busha had over 200,000 registered users and had facilitated 1.5 million trades since launch.

Latest developments

A January 2026 brand refresh repositioned Busha as a digital money app, with a redesigned mobile application, a new logo, local-currency savings with interest, and asset-backed loans starting with crypto collateral, rolled out in phases from Nigeria.

▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies

Market position

Positioned as one of Africa's leading digital asset platforms and Nigeria's first digital asset service provider to hold a provisional SEC license, differentiating on regulatory compliance and consumer trust.

Regulatory licensing by the Nigerian SEC, local-rate pricing and instant local funding and payouts, an integrated stack spanning trading, savings, borrowing, USD accounts and cards, and 24/7 human (non-automated) support.

Technology

A mobile and web trading platform supporting 70+ digital assets with recurring buys and limit orders, named accounts for instant local currency funding, direct bank and mobile wallet payouts, wallet-linked virtual and physical debit cards tied to a USD account, and yield and collateral-based lending features delivered through licensed partners.

Go-to-market

Direct-to-consumer distribution through iOS and Android mobile apps and the web platform, supported by an educational content site (learn.busha.co), app-store presence and reviews, regulatory licensing as a trust signal, and 24/7 human support.

Retail cryptocurrency users in Nigeria and other African markets, ranging from first-time to experienced traders, plus hundreds of business customers using the platform for stablecoin treasury, payments and cross-border needs.

Geography

Headquartered in Lagos, Nigeria, serving users in Nigeria and other markets; the platform displays local currency pricing in Naira and Kenyan shillings, and the company has stated plans to expand into other West African countries and additional emerging markets.

History

Founded in 2019 in Lagos, Busha raised a $4.2 million seed round announced in November 2021 led by Jump Capital, intended to deepen its position in Nigeria and support expansion into other West African countries. In January 2026 it announced a brand refresh, including a new logo combining a currency note and a coin and a redesigned mobile app, marking a shift from a crypto exchange to a full-service digital money app with local-currency savings and asset-backed loans, beginning in Nigeria with plans for further emerging markets.

Risks & controversies

Yield features are optional and carry disclosed risks with no guaranteed returns, and the company operates in a regulated digital asset environment under Nigerian SEC oversight.

Compiled by commissioned research from 5 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
App Store ratingJan 20264.6 stars (5k+ reviews)
Cumulative trades facilitatedJan 20211,500,000 trades
Digital assets supportedJan 202670 assets
EmployeesJan 202630 employees
Google Play ratingJan 20264.5 stars (11k+ reviews)
Maximum advertised annual interest on savingsJan 202618%
Registered usersJan 20261,000,000 users
Total disclosed fundingJan 2026$4.2M

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

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Companies working in the same space as Busha.

Timeline · 3

launches, deals, and filings
Jan 2026
Brand refresh and repositioning as a digital money app

Busha announced a brand refresh with a new logo and redesigned mobile app, expanding from crypto trading into local-currency savings with interest and asset-backed loans, in a phased rollout starting in Nigeria.

source ↗

Jan 2026
First provisional digital asset service provider license from Nigeria's SEC

Busha is described as the first digital asset service provider to receive a provisional license from the Securities and Exchange Commission of Nigeria, and markets itself as an SEC-licensed digital asset exchange.

source ↗

Nov 2021
Busha raises $4.2M seed round led by Jump Capital

Seed round of $4.2 million led by Jump Capital with participation from Cadenza Ventures, Blockwall Capital, CMT Digital, Greenhouse Capital and Raba Capital, intended to deepen the company's position in Nigeria and fund expansion into other West African countries.

$4.2M source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

▸Research sources · 5

primary sources listed

5 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Busha do?
Nigerian SEC-licensed digital asset exchange and money app for buying, saving, borrowing against and spending crypto.
Who founded Busha?
Busha was founded by Michael Adeyeri, Moyo Sodipo in 2019.
Who are Busha's investors?
Busha's investors include Blockwall, Digital Currency Group, Gaingels, Kube VC, The Raba Partnership, Yolo Investments, Cadenza, GreenHouse Capital and 2 more.
How much funding has Busha raised?
Busha has disclosed $4.2M raised across 1 of its 3 known rounds.
Where is Busha headquartered?
Busha is headquartered in Lagos, NG.