Growing up in Port Harcourt, Nigeria, Ruth Iselema focused more on becoming a pharmacist than a fintech disruptor. Little did she know that she would lead one of Africa’s leading blockchain companies.
Her cryptocurrency journey wasn’t a calculated career move but an accident fuelled by curiosity, luck, and a painful lesson in trust. In 2015, a friend from Japan introduced her to Bitcoin, and soon, she was hooked. She joined countless Telegram and WhatsApp groups, where people bought and sold Bitcoin, sometimes making huge profits, other times losing everything.
One fateful day, she sent $1,200 worth of Bitcoin to someone she trusted for a trade. The person vanished—the money was gone—just like that. It was a gut-wrenching experience, but rather than retreat, she built a system where people could trade cryptocurrency safely without falling prey to fraudsters. That’s how Bitmama was born.
Iselema makes crypto simple and accessible in Africa
Bitmama started in 2017 as a small peer-to-peer (P2P) exchange, helping people trade cryptocurrencies directly with each other. Over time, it grew into a full-fledged platform where users can easily buy, sell, and manage digital assets. They are on a mission to use blockchain technology to solve everyday financial problems.
Headquartered in Claymont, Delaware, in the U.S.A., Bitmama is registered as Bitmama Inc. but has offices in Nigeria and Ghana. The company has raised $2.5 million from investors such as Mercy Corps Ventures, Five35 Ventures, and Adaverse, which has helped it expand its services and reach more users.
Through Bitmama, people can trade Bitcoin, Ethereum, Celo, cUSD, and other cryptocurrencies. The platform allows users to create secure wallets and link them to their bank accounts, credit/debit cards, or mobile money for seamless transactions.
“I was really sceptical about crypto trading thinking it was too complex till l was introduced to Bitmama. I discovered the platform is easy to navigate and understand. It’s perfect for novices and suitable for more advanced traders.” – Jessica, Ghana.
Iselema, a pharmacist turned tech-sis
Building Bitmama was far from easy. At the time, investors were not precisely throwing money at crypto startups, let alone one led by a woman in a largely male-dominated industry. She faced rejection after rejection at pitch competitions. Some potential partners doubted her abilities, and others didn’t take her seriously.
Her breakthrough came when she got accepted into Greenhouse Capital’s accelerator program. That single opportunity changed everything. With the mentorship, funding, and a more straightforward strategy she got, she built Bitmama into the successful platform it is.
“Women who want to be founders should know their onions; you need to know a bit about everything – from finance to product to operations. You need to be versatile to run a company properly,” Ruth Iselema said.
Today, Bitmama operates in multiple African countries, helping people trade cryptocurrency, make international payments, and access blockchain-powered financial services.
Ruth Iselema is passionate about educating people on blockchain technology, especially in Africa, where many still see crypto as a risk. She believes that with the proper education and tools, digital currencies can be a game-changer for financial inclusion.
