Kenyan equity management platform, Raise, has raised Ksh. 2.74 million ($25,000) in funding from Nigeria’s Microtraction to help African startups grow their businesses.

Raise was founded in 2018 by Marvin Coleby and Eugene Mutai. The company empowers start-up founders with affordable online tools to grow and distribute equity to hire talent.

Raise also helps African startups manage electronic cap tables, automate financing contracts like SAFEs and share private deal rooms.

“We’re pleased to announce that Microtraction is joining our journey to build Africa’s NASDAQ as an investor and partner. Together, we’ll be building out the future of investing in private and public companies across Africa. We are so excited to be working with Microtraction to build the future of Africa’s capital markets,” said Raise CEO, Marvin H. Coleby.

Raise aims to help African founders save on time and recover from the harsh economic impact poised by the COVID-19 pandemic.

“Raise’s mission is to simplify equity and democratize access to assets for Africans across the world, where people have the power to create financial independence for their communities, teams, and families,” Coleby added.

The company has so far supported over 200 companies and over Ksh. 16.4 billion ($150 million) in equity on the platform. Raise has also created over Ksh. 9.9 billion ($90 million) worth of valuations. It is also working with Africa’s largest corporate law firms to continue onboarding users and upscale across the continent.

According to Colby, Raise offers a suite of solutions that make startup fundraising easier, smoother and more fun. Their values are simple, intended to build products that change lives.