The founder of Nigerian startup Chaka, Tosin Osinbodu, has disclosed leaving the company five months following Chaka’s acquisition by Rise. Chaka allows retail investors to purchase shares from the NYSE and other foreign stock exchanges. Per his LinkedIn page, Osinbodu has joined Alpaca, which develops APIs for trading stocks and crypto. The recently merged companies are now solely helmed by the founder of Rise, Eke Urum.
Established in 2019, Chaka allows users to invest in shares of publicly traded companies in Nigeria and the United States for as low as $2. Chaka became the first trading startup to be granted a digital sub-broker license in March 2021.
Reflecting on his time at Chaka, Osibodu expressed contentment with the transition under the leadership of Eke Urum, CEO of Rise. He commended the integration efforts, stating, “Urum has integrated to build a sum greater than its parts,” highlighting confidence in the future course of both entities post-acquisition. Despite leaving his role as founder, Osibodu remains a shareholder and will continue to offer guidance in an advisory capacity.
Moving on, in his role as Executive Director of Sales for Alpaca, Tosin Osinbodu will aim to broaden Alpaca’s presence in Africa, the Middle East, and Europe. Alpaca currently facilitates over 130+ investment services for neobanks and wealthtechs.