How long have you been part of the Equifam and what’s your current role?
I’ve been part of Equifam for about 6 months now and I work with the venture team as a Venture Support Associate.
What does your job entail?
My job involves everything from the pre-listing stage to the post listing. For the pre-listing stage it involves due diligence meeting ensuring the viability of businesses to be listed. For the post listing stage it involves investment memo detailing the business, it’s market and the rationale behind the listing. I also provide venture support for listed businesses around their needs as well as reports and other information.
What’s your day-to-day like?
My day-to-day involves meetings, follow up calls and report writing.
What would you say motivates you to open slack everyday?
What makes me open slack everyday, outside the need to keep up with work related information and revert or escalate things, amebo is the next reason I open slack ooo. There is never a dull moment with Equifam, I need to know who is on the table for drags,lol
How has your career grown since joining GetEquity?
Before GetEquity, the Venture space was not one I was familair with. Hence, there was a whole lot of learning on the job for me, at the start some things were not clear. Six months in and my understanding of the space has improved as well as my interest. It also provides a platform to meet other people who outside just getting the job done is invested in making sure I understand and have clarity of purpose.
What is your favourite thing about working at GetEquity?
Favourite thing about working here is the fact that I can hit anybody up from the founding team to other colleagues and get response and another is the work environment. GetEquity knows how to ensure that outside work, the team has fun also.
What’s something you’re planning on doing in the next year that you’ve never done?
I’ve always wanted a beach house experience but haven’t gotten around that yet
Before we go, tell us a fun fact about you
Fun fact about me, hmmmm let me think. It will be my singing prowess but my friends argue that I cannot.
In this article, we will be breaking down the process around funding your wallet
In order to fund your wallet, all your KYC documents must have been uploaded by you and verified by our verification team.
For a review on what we ask, please refer to the first article in the series here.
You can get started with the process from two different sections from your app. You can click on the “Fund your wallet” directly on the overview page or you can navigate to the wallet page and select “Fund your wallet” as seen in the images below.
There are two different ways you can fund your wallet on GetEquity. You can choose to fund with:
Preferred Currency (any currency currently available on the platform like naira, dollar, etc) through a bank transfer or a debit card.
Fintech Wallets (like ThePeer which connects different Fintech apps together eg. Paga to Eversend, Eversend to GetEquity)
Funding With Preferred Currency
This funding option means you can fund your wallet in multiple currencies available on the GetEquity platform.
Step 1: Select the “Fund your wallet” option as seen in the image above
Step 2: Select the currency in which you would like to fund from the dropdown. Depending on the currency chosen, you might be prompted further to choose a method of funding either through a debit/credit card, wire transfer to a virtual account, mobile money etc
Step 3: Input the amount you are looking to fund in dollars. The equivalent amount in the currency chosen in step 2 will be displayed on the page alongside the conversion rate.
Step 4: Select the method in which you want to pay either through a debit card or bank transfer. Depending on the currency chosen, not all methods will be available once you get to this stage.
Step 5: Confirm your transaction details inclusive of amount chosen and transaction fees attached and select “Confirm Transaction” at the bottom of the page in order to fund using the Flutterwave payment gateway
From this point, you will be navigated to the flutterwave payment gateway where you would fill in any required details dependent on your method of funding. For example, card details, mobile money details etc
Funding with Fintech Apps
You can also fund your wallet with fintech apps like The Peer which is currently LIVE on the platform. With The Peer, you can fund your wallet from any other business/fintech wallet currently available on the gateway.
Please note payments with the Peer only exist for naira or dollar currencies. Once you select either of these currencies, it takes you to the next step below:
Step 1: Input the amount you are looking to fund in dollars or naira
Step 2: Select the “Fund with Fintech wallets” option as seen in the image below
Step 3: Confirm your transaction details inclusive of amounts chosen and transaction fees attached and select “Confirm Transaction” at the bottom of the page in order to fund.
Step 4: Select the fintech wallet you intend to fund from.
From this point you will be navigated to the Thepeer payment gateway where you would fill in any required details.
You can reach us at support@getequity.io if you encounter any issues along the way.
Our next article covers the process around purchasing tokens on GetEquity and what these tokens mean and how you hold this Equity.
This article is the first part of the ‘Using GetEquity’ series where we break down the process of setting up your profile, making your first investment and understanding what your investment means.
In this article, we will be breaking down the signup and KYC process.
Step 1: Download the mobile app from either the Google Playstore or IOS Store or navigate to the web app on any browser here or simply search for GetEquity
Step 2: Get started on creating an account by filling in your preferred email and password. Please ensure the email is active as you will be required to confirm it using a 4-digit PIN later that only you should ever know for your safety. Also, confirm your password and select “Continue”
Step 3: Fill in your basic information which consists of First Name, Last Name, Your preferred username, phone number and other details
Step 4: Enter your address details which consist of Home Address, Country, State and City
Step 5: Email Verification. This is the first step in our verification process and is required to verify the email used in the signup process. A six-digit code will be sent to your email which must be used to verify your account. Please note to check your spam also for if you don’t receive it in your inbox
OUR KYC PROCESS STARTS FROM HERE. HOWEVER, YOU CAN SKIP THE FOLLOWING STEPS IN ORDER TO BROWSE THROUGH THE APP AND CHECK OUT THE COMPANIES WE HAVE LISTED
YOU WOULD NOT BE ABLE TO PERFORM ANY ACTION ON THE APP IF THE FOLLOWING STEPS ARE NOT COMPLETED
Step 6: Take a selfie. At this point, you are required to take a selfie immediately using your phone or laptop camera. This is to ensure the following:
a human is signing up and not a robot.
to verify who you are which will be compared to your provided ID which is next on the verification list.
Please note you can’t upload a picture from your device. The selfie has to be taken as you are at the moment of signup.
Step 7: Upload a government issued ID card. You are required to upload a CLEAR coloured picture of any government-issued ID dependent on your country of current stay or birth. This includes but is not limited to International Passport, National ID, Driver’s License
Step8: Set your 4-digit PIN. This PIN will be used for signing in and confirming your transactions. You also have to confirm your PIN when making transactions
Once all details have been provided, the team will look through your documents and an email will be sent to you once your documents have been verified.
Next step would be to continue to the app. While awaiting verification, you can look through the app and check out companies who are still raising.
Please note verification takes a maximum of 24hrs. These measures we take are intended to keep you safe as an investor at all times. You can reach us at support@getequity.io if you encounter any issues along the way.
Also note, once you provide us information, please note you cannot change it. If you would like to update any information regarding your identity, we would need to be informed by sending an email to support[at]getequity[dot]io with reasons.
Next steps after verification of your profile would be to fund your wallet which will be covered in the next article.
Unless you are Brian Chesky in 2009 trying to get Airbnb up and running while being a design graduate, you have by now heard about angel investing and how angels are an important entity in the startup industry in every growing emerging market.
But who exactly are Angel investors?
Well, basically angel investors get involved in a company at the very early times, usually during the initial round of funding of founders themselves, family, and friends, or when a company decides to take the very first check.
They provide startups with small amounts to roll out their products which is, most of the time, between $1000 to $1,000,000 depending on the industry, and structure of the business, model and capital the founder needs at that stage.
The main reason why angels are important in the startup field is because they usually come in at the stage where startups need it the most, “the early days”. They invest right at the initial funding and also before the company is yet to take shape for venture capital funds to be interested, hence the name “angels.”
Who are angels and how do they work, you may ask?
Angel investors often have a strong background in the business world but can also be:
Venture capitalists who write small checks on the side as part of alternative investment strategies.
C-level executives at successful high-growth companies and are looking to support other founders or C-level executives.
Professionals with passion and understanding in what it takes to run a successful startup and want to impact on newer generations.
Syndicates(groups of individual investors) that pool small amounts from each person to fund one deal decided by all of them.
Small business owners and entrepreneurs who already run successful companies and know how to spot other successes in the making.
Since angel investments come in at a critical stage of the startups, rigorous due diligence happens but it is relatively shorter than the later stages since the companies are yet to have deepened operations and big numbers to crunch.
Angel investors connect with young, growing companies through networking events, seminars, conventions, referrals from fellow investment organizations, and word of mouth, website portal or business.
When an angel investor and the founder of a company are interested in each other, the angel investor runs a due diligence procedure by talking to the founders, assessing the company’s products and business endeavors, and gauging the company’s industry, market size, business model and founder themselves.
A term sheet is then created by the angel investor when both parties reach a verbal agreement with investment terms, equity percentiles, investor rights and obligations, and exit strategies.
After the contract is finalized, the deal is officially closed and the funds are released for the company to use.
What your startup may gain from angel investment
The angel investor is mostly a fellow entrepreneur, but more experiencedwhich means you will be trusted by someone who understands what you are going through and would provide you with actionable, realistic pieces of advice to grow your company.
There is more cash down the path.Angels only invest in companies they have great belief in future fruition and are in for the long haul. “… they often make another cash injection later on,” says Garett Polanco, an accredited angel investor who’s funded 29 companies.
There are no obligations if your angel investor invests in exchange with equity, most of which do. You do not have to pay back the angel investor when the business does not work.
How angel investment might damage (or kill) your startup
It may get too costly because in many cases, angel investors ask for a huge chunk of your startup in return for their funding. “That typically comes in the form of equity, which could be more expensive than debt financing,” Lavinsky says.
You will remain with less control over your startup. Since the angel investor is more likely to ask you to give up some equity in your company in exchange for their funding. That lump sum of equity might seem to be small but some angel investors might later decide they want a bigger role in business decisions.
There is a high chance you might go with novice angels. Due to the desperation and novelty of some first time founders, some startups end up taking offers from new angel investors with no strong experience in the industry or startup environment at large.
Be careful, do enough research, and focus on growing your business.
Many angels join at an early stage when the companies need every support they can get which is why they like to play an active role in the startups they fund. This is the reason for finding an angel investor who is both close geographically and skilled in the industry your business is in.
Also, there are also crowdfunding platforms that are on the rise where high-growth startups raise funds from communities of dedicated individual investors who take the big risks trusting the founding team to grow the businesses to fruition. This option could save your startup months that it would usually spend fundraising, give you broader connections amongst the founding community and more investors, and a marketing effect during the funding process.
How long have you been part of the Equifam and what’s your current role?
I don’t know to be honest. I was a contract designer for GetEquity sometime in late 2020 up until early 2021, conceptualizing, designing and maintaining GetEquity version 1.0, and then I joined the team full-time as Lead Product Designer in 2022. So you could say at least 16 months altogether, with gaps in between.
What does your job entail?
I design the product in summary. My job entails building designs for new GetEquity products and features, adding improvements to existing sub-products and conducting market research for new product design ideas for the team while collaborating with and overseeing other designers and projects. I also define product specifications with requirements from the product managers and constantly liaise with the developers.
What’s your day-to-day like?
I don’t think I have a very strict daily routine outside of work. Just work. That’s all I do most of the time. Then on some evenings, I go to the gym for some workout, and I play a good amount of table tennis in a week. It’s not much, but it’s honest work…innit?
What would you say motivates you to open slack everyday?
Lmaooo. Not sure I’m always motivated to open Slack. But I open Slack everyday because I always need/want to liaise with the team and know what’s going on. So it’s basically out of the sheer necessity of it, and not necessarily motivation.
Drew on a relaxing day
How has your career grown since joining GetEquity?
I’d like to approach this from a creative thinking angle, which is a subset of career growth. At GetEquity, we’re always building something entirely different, and more challenging. In some ways, it has forced me to approach problems from a different eye view. That’s growth too, I believe.
What is your favorite thing about working at GetEquity?
Mehn. It has to be the product itself for me. It’s how we’re redefining how startup investment works every single day at work. Yup, it’s the product, I find it interesting. Apart from that, I like the little bants we throw around on Slack, as well as the holiday packages. Speaking of holiday packages, when is International Men’s Day please? Asking for a friend.
What’s something you’re planning on doing in the next year that you’ve never done?
Every high-growth startup needs funding somewhere along the way on their journey to deliver value on the market at scale. Now, it is a wrong concept for most inexperienced or first time founders to think that their companies need venture capital to start rolling out products whereas companies instead need venture capital to scale the product and the innovation they already have traction for.
When your startup is ready to receive venture capital, investors need to see certain information and data to assure them of a good deal. The number one reason startups fail is the inability to raise funds. Matter of fact, 38% of failed startups did so because they ran out of cash or failed to raise capital. So below, are the main things venture capitalists want to see so they can give you their money and also so your startup does not die.
Is your solution needed on the market?
Almost all startups any VC will invest in have to have a product, either a service or a tangible good that they are selling on the market for a profit. Sounds good so far? Now, for your product to be successful, it has to be addressing a certain meaningful pain point on the market for the VCs to give you their money.
VCs are betting on your product to scale and find fit on the market so they can later cash out big. So it is usually easier if your product is an improvement of another existing solution or a totally new innovation creating a faster, cheaper, more effective way to solve a certain widespread problem on the market.
What kind of money is the company making and how much?
Your startup needs to make money in a clear manner so the VCs would understand if the company’s solution is profitable enough and how it will scale because that is the main checkpoint the VCs want to see.
For example, consistent revenue where customers pay a recurring price for a good or service such as daily, monthly or annually is more attractive to investors than a one-off payment that is hard to predict when the buyer is purchasing again.
Getting your unit economics is vital as well. The VCs want to see how much it costs to acquire a new customer, average lifetime for the customer, their lifetime value, and also per-unit profit margins. VCs want to see how your company plans on decreasing operational costs as it increases operational profits. Why? The investors want to see if they have a big payday as they exit so they have a reason to give you their money.
Who is the founder of the company?
Not in “what is their name?” No. Rather, who is the founder, as in “what is their story?” VCs want to know the founder’s background so they can analyze their character as someone to be trusted, someone resilient, and someone who does not back out on their word. The investors also want to know the founder’s business history to understand their experience and how it helps their current company’s work.
The VCs want to know if the founder is someone relatable, likable, and someone who can build trust and connection between the company and its customer base. Investors always invest in an individual, being the founder, because they are the one with the ultimate vision for the company and the ability to take it there so they want to back someone capable.
How much traction does the company have so far?
Once again, VCs come into a company to help it scale their existing product and customer base. To do so, they want to see proof of what has been achieved before in terms of revenue and a number of paying customers.
Investors try very hard to avoid pre-revenue companies because they want assurance of immediate growth so they can expect a huge ROI. A VC would rather inject $400,000 into a company with $700,000 of revenue than in a company with $250,000 in revenue because covering their initial investment with existing revenue is their best tactic to hedge their bet.
How do I exit?
Investors are not in the business of hanging with the startups they invest in for the long-term. No. Their job is to invest in a number of companies that fit their investment philosophy, then double down on those that hit their goals, and exit on a huge interest. That is it. That is their business plan. If they invest in a company at a certain valuation and the company goes on to grow and raises the following round at a higher valuation, the investors get to cash out big and leave.
Do you get it now? If yes, now your job is to show the VCs how your company is about to blow up — not literally though 🙂 by backing your claims with tangible proof and data of your company’s recent achievements and huge plans. Then and only then, will you have a chance at their money.
At the end, it all comes back to solving a meaningful problem.
Investors will invest in companies that are growing fast and need resources to back that growth. That is what excites the investors — fast growth. So get back to work and assess the problem your company is trying to solve, the solution you have created, and the plan to scale the solution into a product that is designed to scale. And when you are ready to prove those details, you will be venture capital ready.
In some of our messages across social media, you might have seen us mention the term “Angel Investing” a couple of times. We even made a pledge to make you an angel investor in your own right.
Now that you are aware of a few tips as regards getting into startup investing. If you missed this, read up here
What exactly is angel investing? Who is an angel investor?
I am here to break it down for you as much as possible.
An Angel Investor is an individual who provides funds or financial backing for startups or entrepreneurs typically within the first 3 years of building the company.
Angel Investors provide these funds in exchange for equity in the company and at an early stage, they comprise of family, friends or within a network.
Startup investing is a very risky strategy and long term in focus. As an angel investor, there is a higher possibility of losing all the funds invested in a startup at a very early stage.
So you might ask, why do these individuals choose to invest in these startups at this stage?
Essentially, Angel investors have two things that enable them fund startups. Finances and Motive
There is a saying, “Never invest money you aren’t willing to lose” and this applies to angel investors a whole lot. This means the funds being put in at this stage might not fully be essential to their daily well-being. This is where their motive for funding comes into play.
With the possibility of an investment being lost, Angel Investors always have a specific motive for wanting to invest in a startup. This can be either through a shared vision/goal of the future, or a member of the family supporting the startup. Here are different categories of investors:
Family and Friends Investor: These investors might not be your average everyday typical angel investors but rather a supportive family member/friend that “knows” either the founders/founding team of the startup. Their investment in the startup comes from a place of support and trust.
Community Investor: These investors come from the community around the founding team either as former colleagues, business friends, friends of friends etc. They may or may not understand what your new company is doing but they or someone in their direct network has had a good track record of working with one or more members of the founding team and as such leads them to supporting with funds.
Idea Investor: These investors are individuals who are very familiar with your idea and the solution you are building. It could be someone who has had the idea to build a similar solution but couldn’t due to several reasons or someone who is very familiar with the market you intend to penetrate and wants to support the startup and its solution.
Who Can Be an Angel Investor?
Initially, Angel investors were individuals who were willing to drop amounts ranging from $5000 upwards in startups.
But with the help of platforms like GetEquity :), anyone can be an angel investor. That’s right, anyone.
This in turn helps foster faster innovation and growth in these startups as they now have the ability to raise funds from a wider pool of individuals. With angel investors, like you or I also supporting them with as little as $10.
In our next article, we will be diving into the technicalities of angel investment and getting familiar with some terms and keywords used.
See you soon!!
Got any questions on this, please send us an email at support[at]getequity[dot]io and the team will definitely get to you.
Besides sourcing deal flows, venture capital speak for investable companies, there is another major reason that startup investments continue to be a “privileged” endeavor.
Here at GetEquity, we are not only looking to make these deal flows accessible to everyday people, but we are also aiming to educate you and help you make the most of these opportunities.
If you’re new to startup investing, you are in luck because we are bringing you some helpful tips on how to invest in startups and begin your journey. Let’s get right into it.
Seek to understand the product and industry before you invest aka do due Diligence: No matter how much you might know about a product or how interested you might be in a product or an industry, it would not hurt to do some historical research. Dive in on the industry and understand the company and their product and team and what it does before investing. As a Golden rule, only invest in what you trust and know.
Invest time before committing money: Make out time to use the product, speak to the founder if they are accessible, or otherwise read their blogs and our interviews, ask about their failures and wins (a lot of learning comes from here). Speak to fellow investors and you will be surprised at the insights you will get about the industry.
Get familiar with the terms: Phrases and words like “SAFE”, “valuation”, “cap table”, “dilution” e.t.c can be very confusing, but a great way to ensure that you don’t get hosed on this journey is to look them up so you know what their implications are before you make any financial commitments. We will also help you simplify these terms and if you have questions, our team are on standby to always help provide deeper context.
Only invest what you can afford to lose: This tip is by no means intended to make you paranoid. Losses are always part of any investment class and startups are not exempt. Startup investments are very risky and not guaranteed and it’s why it’s been historically only open to High Networth individuals who the thinking at that time is open to people who can afford to lose funds and can take the risks but we believe differently, however, the risks remain, there is a high possibility you may lose all your funds if a company does not meet its intended goals but the returns are always worth it if you stick around, so be prepared.
Do not feel guilty for refusing to bet on a company: Sometimes, your gut is the best due diligence check you can have and that is perfectly okay. If something feels too good to be true, it probably is. Don’t Jump on trends, however, it’s great to invest together with people.
Be patient: Investments generally are a long game, sometimes very long think in 10-year landscapes. Some people get lucky and the returns come early, it doesn’t make them the norm. Think of the unicorns in Africa today and how long it took them to get here, on average many took between 5–7 years to achieve that status. If their investors had pulled out early, they would have missed out on the astronomical returns that becoming a unicorn affords its investors, so think Long term not short term and enjoy the rewards.
ROI are not known until liquidation events occur: Unlike investing in other asset classes, startup investment is very unique and quirky in one way, ROI are generally not known until a liquidation event occurs however an estimate is provided which may or not be accurate, liquidity events are events that occur in a companies lifetime that leads to how investors earn, they could be in terms of a merger or acquisition, initial public offering or IPO, a new investment round, Employee buyout, Share buyback scheme any of this can lead to earnings for investors alternatively investors can make use of the secondary market to trade their allocations in this companies.
Follow GetEquity on social media here and download the app here for more tips like this and start investing in companies you love like a pro.
Got any questions on this, please send us an email at support[at]getequity[dot]io and the team will definitely get to you.
Startups are constantly looking for the best ways to raise funds seamlessly and faster. At GetEquity, we provide a platform for startups to do this.
But as startups raise money, their team grows. With the fast-paced nature of startups, it can be quite difficult to manage finances, employee payroll, and other operational activities on a weekly or monthly basis while still being focused on company growth and revenue.
This is where Cadana comes in.
Cadana InstantPay, empowers employees, salaried workers or contractors to withdraw a percentage, pre-set by the company, of their real-time earnings and instantly transfer it to their bank or mobile money account. This solution is also known as Earned Wage Access (EWA). Cadana allows startups to run payroll efficiently, provide payments and invoicing functionality all on a single portal to manage all their finances in 20+ currencies, including digital currencies, so startups can hire and pay anyone anywhere.
Thereby providing startups with the ease of running their business while also maintaining their staff and books in an efficient manner.
We are excited to announce that we have partnered with Cadana to provide 3-month free access to startups listed on GetEquity.These startups would have a chance to manage their payroll seamlessly while also giving their employees a chance to access their salaries ahead of time thereby creating a more productive environment for their staff.
Additionally, Cadana will pair each business up with a dedicated account manager who can advise on payroll and statutory obligations for the business.
Our Head of Growth, Temitope Ekundayo, has this to say about the partnership: “Cadana is building modern day tools to ensure employees are well compensated for the immense value they bring to businesses, now with a click of a button, payroll headaches are solved and productivity and employee welfare is taken care of for good which every founder knows is the topmost and vital priority for them, we are happy to partner with Cadana to provide more ease to our Startups in our ecosystem in our vision to ensure Founders and Startups have access to tools and resources that makes them scale better and reduce any stress they may have while building their businesses”.
Albert Owusu-Asare, CEO and Co-founder, Cadana, also shares: “We believe SMB and startups are the backbone to the economy. We couldn’t be more proud of this partnership with GetEquity. We are excited to provide real time, flexible and borderless worker payments experiences to accelerate growth for the GetEquity community. With Cadana, startup operators can focus on what they do best — growing their businesses.’’
It’s another awesome week and we have been building awesome things to serve you better.
As always, here’s a round up of one of those things we have been excited about for a while now.
In 2021 we launched our secondary market trading feature on GetEquity and I am here to educate you in as simple words as possible.
What do you mean by Secondary market? Is there a Primary market?
Yes in Venture and Financing, Primary markets exist. In the simplest of definitions, the Primary market is where securities are created and sold to the public for the first time meaning it’s the first place shares and allocation of a company get viewed to investors looking for those shares.
In relation to GetEquity, the primary market is where you initially buy tokens in the startups listed as they go LIVE right up to the moment they close their round (closing a round means when a company is successful in fundraising their goal).
Every transaction that occurs at this point is done on the primary market which is typically a Buy transaction.
So where do secondary markets come in this case?
Secondary markets are where investors buy and sell securities already being owned by themselves or from other investors. It’s called secondary because these transactions have moved a step further from when the securities were initially sold.
In relation to GetEquity, the Secondary market is where you buy and sell tokens in companies whose rounds have closed currently.
We opened up the secondary market on GetEquity as a semi-liquidation system allowing you own and sell tokens of the companies you believe in to get liquidity or a seat at the table much faster.
If you own tokens in companies that have closed their rounds on GetEquity, you can now sell your tokens.
If you missed the company’s initial round, you now get a chance to purchase tokens from those willing to sell theirs.
For secondaries to occur, we make use of a tool called an Order book which is a record of transaction requests that occur, are logged and are matched in real-time, we call these order books the Market Order and Limit Order books.
Ok seriously break it down!
We make use of an order book where buy and sell requests are executed strictly as they come in.
Once there is a matching buy request at the price you are willing to sell, your sale would be successful. You can also place a buy request for tokens. If there is a matching sell request i.e someone who is willing to sell to you at the price you are willing to buy, your request will be successful.
There are two types of orders we introduced on the secondary market. Market orders and Limit orders.
Market Orders
A market order lets you buy or sell a token at the best currently available price on the system. This means you won’t be sure of the price your order will be executed until it’s done.
On a market order, you can only set the number of tokens you want to buy or sell. Your order will be fulfilled at the best available price. To help guide you on market orders, right on the app, you can see the last traded costs for buy and sell orders.
If company X was last traded at $10/X, your order would most likely be fulfilled at that price. Market orders are affected by supply and demand and based off of milestones of a companies progression.
Limit Orders
A limit order on the other hand allows you place a buy or sell order in advance with a set price you want . The exchange will only fill your order at the limit you have set for it. This is why it is called a limit order.
For buy orders, If I place a buy request in company X for $15 for a token, my request will be fulfilled at either $15 or lesser per token. That is, I have told the exchange that the most at which I want to buy a token is $15. That’s my limit on the amount I want to spend per token.
For sell orders, If I place a sell request in company X for $15 for a token, my request will be fulfilled at either $15 or greater per token. That is, I have told the exchange that the least at which I want to sell a token is $15. That’s my minimum price on how much I want to sell my token. As we Nigerians like to say, that’s my last price.
And that is how the secondary market works.
To get started on trading on the secondary market, all you need to do is head to your investor dashboard and click on the subheading “Secondary Market” to view all secondaries on the platform.
We do hope we have been able to convince you and not confuse you and we are happy to further educate you.
Got any questions on this, please send us an email at support[at]getequity[dot]io and the team will definitely get to you.
We are thrilled to announce another exciting partnership, this time with Wefunder, a global crowdfunding platform that allows institutional and individual angel investors (like you) to invest as low as $100 in startups and small businesses you believe in from around the world, not just technology but across many other SME industries.
Yes! We are absolutely stoked about this partnership for GetEquity, and for our community.
Why the partnership?
As you know, GetEquity is focused on giving African based startups an opportunity to raise capital from their community, and investors at large.
So, Wefunder and GetEquity have partnered to offer investors based in Africa the ability to invest in African-based startups who’ve opened up community round allocations for global investors on Wefunder. Win-Win, for startups and for investors.
GetEquity will co-list a portion of the startup’s allocation on our platform. This allows investors across Africa to invest in these startups through GetEquity which makes use of African-focused payment platforms without the need for a dollar account.
This also facilitates a seamless raise for these startups who would have access to a wider range of investors from both platforms. GetEquity Founders can also have the opportunity to raise via Wefunder and have access to investors abroad here
“We have always been big on partnerships and collaborations that create more value and opportunities for our users and for our community and this partnership with WeFunder gives us a chance to do a lot more for startups, individuals and institutional investors across Africa, we are really excited about the possibilities ” Jude Dike, CEO, GetEquity.
“The team at Wefunder could not be more excited than we are right now to be working with Jude, Temitope, Lamide, and the rest of the team at GetEquity. We believe this partnership will allow us the ability to double down on our charter. Our mission is to reduce the barriers to investing in dreams. Create more value and opportunities by helping more founders on the continent raise capital from investors in their ecosystems. Allowing everyone the right to invest in what they believe in. This pivotal partnership with GetEquity does that!” Adie Akuffo-Afful, Head of Venture Partners at Wefunder
Merry Christmas once again to our awesome community
It’s been a wonderful week filled with smiles and laughter alongside friends and family celebrating the Christmas holiday and getting ready for the new year.
And it’s no different here at GetEquity.
As we make our plans, write those PRDs, review those strategies, we can’t help but look back at our journey which started this year.
Shall we?
GetEquity Launch
We started the GetEquity journey at the second quarter of the year with the help of our community, friends, and network.
The power of community came in handy when all we had was the initial version of our web app, a telegram group, and 4 companies we intended to list whilst also preparing for our main launch.
Through numerous feedback and several iterations, we officially launched in July 2021. With an official press release announcing our launch and pre-seed round led by Greenhouse Capital, a video on who we are, and 5 listed companies.
To say, we were just getting started was an understatement.
Listed Companies
As I’m sure you know, one major part of GetEquity is helping startups raise funds easily while allowing investors like you and I invest from as little as $10. As a full-blown entity, we initially launched with 5 listed companies, 3 of whom closed their rounds in a few days.
From May till date, we have officially listed 15 more companies on the platform with a combined total of $400,000 to be raised. From all 15, 7 companies have successfully closed their rounds.
We also launched our other solution called dealroom, a community called Herconomy used the infrastructure to raise a total of $165,000. More of our figures below
New Features
We released three major features on GetEquity but plan to double the number in 2022😏
Gifting — We enabled all our awesome users like you to gift tokens to anyone who owns a GetEquity account in companies you have invested by using just their email addresses or username. A feature that surely came in handy during this festive season as a lot of users were able to gift their loved ones and family tokens in companies currently listed.
TheDealRooms — The Dealrooms are our suite of unique investment infrastructure products and back office management tool that enables individuals, startups, VCs , communities, funds and other investors in the ecosystem manage their capital raises and investments on an accessible virtual platform seamlessly. It is a platform that enables you to organize, structure, manage and create your portfolios and deals and invest in Startups here . Here is our explainer video here
Secondary Market — We opened up the secondary market on GetEquity where you can buy and sell tokens faster. If you own tokens in companies that have closed their rounds on GetEquity, you can now sell your tokens. Once there is a matching buy request at the price you are willing to sell, your sale would be successful. You can also place a buy request for tokens in companies whose rounds you missed. If there is a matching sell request i.e someone who is willing to sell to you at the price you are willing to buy, your request will be successful.
Integrations
In order to create more seamless ways for you to invest in startups on GetEquity, we integrated a couple of payment gateways to ease transactions.
The Peer — We partnered with The Peer to allow you fund startups from your favorite fintech applications, they do this by allowing businesses easily communicate and receive payments from one another. You can fund your GetEquity wallet from any other business wallet available on The peer
FluidCoins — Being part of the first set of companies we listed, it was definitely right of us to partner with the FluidCoins also. Something about walking the talk. You can now fund your wallet using the FluidCoins gateway on our platform. With Fluidcoins, you can fund your wallet with either USDT, USDC or BUSD_BSC. However, please note this feature is currently only available outside of Nigeria.
GetEquity Talks and Ask A Founder Sessions.
In our bid to help these startups raise easily and faster, we held bi-weekly chat sessions on twitter spaces where a founder from each startup discussed and answered questions from the community on everything regarding what they are building, their goals, and vision.
This, in turn, allowed our community to get a first-hand understanding of each of these startups right from the horses’ mouth alongside viable reasons as to why they should invest in these companies.
A tradition we intend to carry into the new year for existing and incoming startups.
Traction
Here is a brief breakdown of our metrics:
You can reach us faster
As part of our improvement to our service, we will be adding more features and roadmap on building a better way to invest and raise on our platform.
We are open to suggestions and calls. You can book a meeting with us via this link if you want to reach the team and if you have any suggestions shoot us a mail at support@getequity.io
We will share a report on how each of our portfolios are faring so far so do us one big favor, look out for our emails and announcements.
We say a huge thank you for your continuous support from the moment you joined us on this journey this year. 2022 promises to be even bigger, with your support and help we tend to make BIG, BOLD and frankly audacious moves. Like our Christmas card said, “For us, the mantra has been “ Go big or Go home” and we don’t intend to go home….”
