For fundraisers
Raise capital from the Nigerian public
Eligible Nigerian MSMEs may raise up to ₦50m, ₦70m or ₦100m in a twelve-month period by enterprise size. These are maximum limits, not minimum raises. No offers are open on Pennytree.
Risk warning: read before investing
Investing through this platform is risky and speculative. You may lose your entire investment and must be able to bear that loss. Past results are not indicative of future performance. Ask questions, read all information carefully and seek independent financial advice before committing funds. The SEC requires investor limits to be monitored. No investments are accepted while Pennytree is not live.
Read the full risk warningWho can raise
- A company incorporated in Nigeria as a limited liability company.
- At least two years of operating history, or a strong technical partner with at least two years of history, or a core investor for a younger MSME.
- An MSME by the Commission's definition, with financial records to support it.
- Not a complex structure, a publicly listed company or its subsidiary, a blind pool without a specific business plan, or a company proposing to lend the proceeds or invest them in other entities.
The maximum you may raise in a twelve-month period depends on your enterprise size: ₦50m for a micro enterprise, ₦70m for a small enterprise and ₦100m for a medium enterprise. The aggregate includes controlled entities, entities under common control and predecessors. Commodities investment platforms have separate requirements and limits.
What you will need
- Certificate of incorporation, memorandum and articles of association.
- Two years of audited financial statements, if any, or an audited statement of affairs.
- A board resolution authorising the raise.
- Tax clearance certificate.
- Identification for every director and significant shareholder.
- A business plan, a use-of-proceeds breakdown and your own risk factors.