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ARM enters business with Trove, invests undisclosed sum in equity funding


ARM, Nigerian Assets management firm, has partnered with fintech startup Trove, with claims to “help broaden investment opportunities for its teeming customers around the country”.

The partnership which came as equity funding from ARM is reportedly targeted to boast Trove’s financial footing, following the startup’s participation in “Labs by ARM Programme”, a scheme sponsored by ARM that kicked off in 2018 in partnership with Ventures Platform.

The amount of the equity funding is, however, undisclosed as at the time of this report, but speculations are that it is sufficient to push Trove to break even as ARM is one of Nigeria’s profit oriented investment organisation.

Speaking on the development, Henrietta Bankole-Olusina, Managing Director and ARM Financial Adviser, expressed ARM’s excitement on the new investment landing, describing it as “a wonderful opportunity to enlarge the investment fields”.

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Henrietta said, “We believe that this is a wonderful opportunity to enlarge the investment playing field for our valuable clients enabling them to trade in diverse stocks and accumulate wealth globally from the comfort of their homes.

According to the financial adviser, this opportunity should be instrumental to the building of prosperity.

“It is also our hope that this partnership will encourage more millennials to explore the world of investing in order to build a future of realised ambitions,” Henrietta stated.

Through Trove, both ARM’s clients and Trove’s users can now invest in shares in large corporations such as Facebook, Pinterest and other social media platforms on Trove’s listing.

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Ridwan Adelaja

Ridwan Adelaja is a multimedia journalist with a special interest in business news analysis

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