Hyro Exchange, the first Ghanaian-founded cryptocurrency exchange, is looking beyond local capital as it prepares for its next phase of growth.
- Hyro Exchange, the first Ghanaian-founded cryptocurrency exchange, is looking beyond local capital as it prepares for its next phase of...
- The company is in discussions with foreign investors after completing a seed funding round that valued the startup in the...
- The move comes as crypto startups across Africa face a more complex fundraising environment.
- “A Ghanaian-anchored investor has taken 10% shares in the company, giving Hyro a multi-million dollar valuation.
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The company is in discussions with foreign investors after completing a seed funding round that valued the startup in the multi-million-dollar range, according to founder and CEO Del Titus Bawuah.
A Ghanaian-backed investor recently acquired a 10 per cent stake in the exchange. Hyro is now seeking to sell a similar stake to international investors as it builds a war chest for expansion across Ghana and other African markets.
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The move comes as crypto startups across Africa face a more complex fundraising environment. Venture capital has become harder to secure, pushing founders to explore strategic investors that can provide both funding and market access.
Hyro Exchange among the firms testing VASP framework in Ghana
Hyro’s fundraising efforts come at a time when Ghana is taking steps to regulate digital asset businesses.
The exchange was among the firms admitted to Ghana’s regulatory sandbox for Virtual Asset Service Providers (VASPs), giving it an opportunity to test and operate under regulatory supervision as the country develops its digital asset framework.
While many African crypto companies continue to operate amid regulatory uncertainty, Ghana’s emerging framework offers startups a pathway to build compliant businesses and attract institutional capital.
“A Ghanaian-anchored investor has taken 10% shares in the company, giving Hyro a multi-million dollar valuation. The company is in talks with international investors to sell the same amount of stake as part of a broader capital strategy designed to support regulated scaling,” Bawuah said.
Expansion beyond Ghana
The additional capital would help the crypto startup accelerate product development, strengthen compliance operations, and expand into new African markets.
The exchange is positioning itself as a homegrown alternative in a market dominated by global crypto platforms. As demand for digital assets, stablecoins, and cross-border payment solutions grows across Africa, regional exchanges are increasingly competing for users who want services tailored to local payment systems.
Hyro currently offers trading services for dozens of digital assets and is targeting growth in markets where crypto adoption continues to rise despite tighter regulatory scrutiny.
A test for investor appetite
Hyro’s next equity raise could offer an early signal of how foreign investors view Africa’s regulated crypto sector.
Investor interest in African fintech remains selective, with capital flowing toward startups that can demonstrate regulatory compliance, revenue growth, and a clear path to scale.
For Hyro, securing foreign investment would not only provide fresh capital but also strengthen its ambition to become one of the continent’s emerging crypto infrastructure players.