Nigeria’s clampdown that forced Patricia technologies Ltd to move offices to Estonia, plans to raise as much as $50 million as it recovers from the clampdown
Patricia Plans to Raise Funds
Patricia Technologies Ltd., a cryptocurrency exchange, is planning to raise funds for the first time as it rebounds from a crackdown in Nigeria that wrecked its business and prompted it to relocate to Estonia.
After starting with less than $2,000, founder Hanu Agbodje has bootstrapped Patricia for the past four years, meaning he hasn’t taken on any institutional investors.
The startup now intends to raise up to $50 million in order to improve its system, hire blockchain developers, and meet regulatory criteria.
Agbodje estimates that the monies will be raised in the following six months.