For fundraisers
How raising capital on PennyTree works
From an eligibility check to a live offer and the reporting obligations that follow it.
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. Investment limits are monitored by PennyTree.
Read the full risk warningThe steps
- 01
Check your eligibility
Answer a short questionnaire about your incorporation, operating history and financial records. It returns whether you are eligible and the maximum you may raise in a twelve-month period.
- 02
Complete the application
An eight-step application covers your company details, management, business plan, financial statements, use of proceeds, instrument terms, risk factors and related-party transactions. You can save and resume at any point.
- 03
Submit your documents
Certificate of incorporation, memorandum and articles, audited financial statements, board resolution, tax clearance and directors' identification.
- 04
Due diligence
PennyTree conducts its own due diligence on the company, its directors and its disclosures. We may decline any application, and we will tell you why.
- 05
Configure the offer
You set your target, your minimum threshold at no less than 50% of the target, your instrument terms and your offer duration of up to 60 days, extendable once by 30 days.
- 06
Go live
A copy of the offering document goes to the Commission, then your offer opens in a public deal room with a moderated investor Q&A.
- 07
Close and report
If the target is met, funds are released within 24 hours of close. If only the minimum threshold is met, you submit a revised use-of-funds plan within one week. Ongoing disclosure obligations then apply for as long as the instrument is outstanding.
Limits that apply to your raise
- Between ₦50m and ₦100m in a twelve-month period, depending on your enterprise size.
- Offer duration of up to 60 days, extendable once by a further 30 days.
- A minimum threshold of at least 50% of your target.
- A material adverse change must be notified within 24 hours; it opens a 7-day rescission window for investors.
- If an offer fails, a 30-day cooldown applies before you may apply again, with updated financial statements.