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Nigeria
2019 (7 Years)
Last online: No recent activity
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This company is currently Unproved.
Please be cautious of the potential risks!
License
A Grade License
Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.
B Grade License
Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.
C Grade License
Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.
D Grade License
From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.
Get to know Bongalow
Company Information
Get to know Bongalow
Bongalow was a proptech/fintech company founded in 2019 with the mission to address the housing deficit in Africa. The platform aimed to provide a seamless, digital-first mortgage origination process for Africans on the continent and those living abroad, enabling them to purchase property in their home countries. It facilitated access to mortgages and home loans, initially focusing on the Nigerian market. Despite raising pre-seed funding, the company ceased operations in late 2022, citing challenges in the macroeconomic environment and the African mortgage market.
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