Nigerian Crowdfunding Platform OwoHQ Rebrands as Owave, Reporting Over N140 Million in Funds Within First Year

Nigerian crowdfunding platform OwoHQ rebrands as Owave and it’s been a big year for them, raising over N140 million in funds within the first year. This Nigerian-based startup started in July 2024 with the goal of changing how people in Nigeria and Africa ask for and get financial help. They wanted to make the whole process simple, safe, and trustworthy.

The rebranding from OwoHQ to Owave wasn’t just about having a new name. Daniel Owodunni, the CEO and co-founder, shared that they needed a fresh identity because there was already another product with a name very similar to OwoHQ. This caused confusion, so changing to Owave helped clear things up and gave the company a stronger brand for the global stage. The name Owave fits perfectly because it represents energy and movement, like a wave pushing people forward. This matches their goal to grow and support more people across Africa and beyond.

Owave is different from many crowdfunding sites because it offers a special place for NGOs and organizations to run campaigns. You can find fundraising for children’s health, women’s care, education, and other important needs all in one catalogue. This way, people looking to help can easily find campaigns they believe in.

Trust is very important in fundraising, and Nigerian crowdfunding platform OwoHQ rebrands as Owave with this in mind. They work hard to make sure people feel safe when supporting a campaign. Every person who wants to start a campaign goes through a careful verification process called “Know Your Customer” (KYC). This checks who they are and why they need money. It’s a smart way to prevent scams and make sure donations are going to the right place.

Owodunni explained that Owave is more of a service than just a fintech product. Their goal is to help solve real money problems for people by connecting them with the right support. Because of this, the platform also makes sure that only the verified person who created a campaign can withdraw money, using the bank verification number (BVN) for extra safety.

Since Nigerian crowdfunding platform OwoHQ rebrands as Owave and started, they have helped raise over N140 million in funds within the first year. This number is not just about money; it shows how much people trust the platform and how much good they are helping to do. Owodunni said that the success so far shows the power of working together and building trust.

When people set up a campaign on Owave, the platform takes a 7.5% fee from the money raised. This fee covers the cost of payments processed by companies like Paystack. Because of this, campaign owners are told to add this fee when setting their fundraising goal. For example, if the goal is N1,700, they should add the fee to cover everything. Also, if a campaign doesn’t meet its full target, Owave lowers the fees based on how much was actually raised. They also take special care with health campaigns, handling them more gently because these are urgent situations.

Recently, Owave made it easier for users to start campaigns by creating two simple options. The first lets people start a campaign right away with instant verification. The second unlocks more features once users go through a deeper verification process. This way, fundraisers can get help faster but the platform still stays safe and secure.

Looking into the future, Nigerian crowdfunding platform OwoHQ rebrands as Owave is getting ready to launch some exciting new tools. In November, they will release software that lets people raise funds by sharing a simple scan code with friends and supporters, making giving easier than ever before. They are also planning to support more currencies and even accept cryptocurrencies for donations. Since they want to grow in other African countries like Ghana, South Africa, and Kenya, having different ways to pay is important.

Owave also plans to launch a mobile app soon. This app will make it simple for people to create and support campaigns right from their phones. Owodunni believes that making the process easy and smooth is key to helping more people get the financial support they need.

Nigerian crowdfunding platform OwoHQ rebrands as Owave, reporting over N140 million in funds within the first year, shows how technology can be used to solve real problems. With a focus on trust, security, and simplicity, Owave is helping many people raise money safely and is ready to expand even more across Africa.

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