Herstory: Nigerian Women Founders is a 21 Magazine original series launched in March 2024 as a tribute to Women’s History Month. This captivating series delves into profound interviews with Nigerian women who have fearlessly founded brands and companies within the dynamic landscape of our economy. Through compelling narratives and insightful conversations, we illuminate the remarkable journeys, challenges overcome, and triumphant successes of these visionary leaders. Join us on a journey of inspiration, empowerment, and celebration as we showcase the resilience, innovation, and impact of Nigerian women in shaping our shared future.
Bamboo is an innovative investment platform dedicated to empowering Africans both at home and abroad to grow their wealth. With a clear vision to scale and diversify investment opportunities, Bamboo has successfully made finance more accessible to thousands across several countries, including Nigeria and Ghana. Serving over 1,000,000 customers, the platform inspires a new generation of investors by offering a variety of asset classes and fostering a community where financial literacy and empowerment are prioritised.
How would you introduce yourself if we ran into each other at an event?
“Hi, I’m Yanmo,” lol. I don’t really like talking about my work, so it’s unlikely that I’ll meet someone and be like, Hi, I’m Yanmo; I’m the Co-founder and Chief Operating Officer of Bamboo. Even when I talk about work, my first instinct in a social setting is to say that I work at a startup, not that I’m a co-founder. While some might think it’s about being humble, for me, it’s not. I just find it awkward, and I generally don’t like talking about work outside of work. It helps with a healthy work-life balance.
Let’s hear a bit of yourself, school, and education before founding Bamboo
I’m Yanmo Omorogbe. I grew up in Lagos. I went to Grange in Ikeja for most of my life, from age 5 to the end of secondary school. Then I went to the UK for the A levels, somewhere called Queenswood. I went to Imperial College for my university degree, where I studied chemical engineering and got a Master’s degree as well. Then I moved back to Nigeria.
Why did you move back to Nigeria?
I hated London. I really hated it. I thought I was moving back for a year to complete NYSC and clear my mental health from London. Since I’ve been back, my one year has turned into almost ten.
Can you share your journey towards starting Bamboo? What inspired you to start this platform?
I was working at a financial institution at the time and just beginning my investment journey. I wanted to invest in the US stock market and it seemed there was no way for Nigerians with a Nigerian ID to get onboarded to the platforms that offered stock trading. The international firms didn’t want to onboard Nigerians because of our KYC risks, and the Nigerian firms that we found were too expensive because they had a high capital requirement.
I spoke to a friend, Richmond, about this and he shared he had experienced something similar and mentioned he was working on something. I asked him to keep me posted, and we had a couple of conversations about this after. My initial plan was to be one of the first users of the platform, but he asked me to be his co-founder. I took a little while to think about it, but I’m relatively impulsive, so I just said why not!
I have a general philosophy about life, what’s the worst that could happen? If I reflect on this, and I am okay with the worst-case scenario, then why not? For me, it was a cool experience and a learning opportunity. I was young at the time and still living in my parents’ house and when I did a risk analysis, the risk versus potential reward ratio balanced out. I also spoke to my Dad about it. He’s someone I respect a whole lot, and I remember him telling me, “Risk is for the young.” My decision was clear, so I said Yes to the offer to co-found Bamboo.
Were there any challenges you faced while starting and if there were, how did you overcome this?
I believe starting anything is hard, and founding a fintech in Nigeria is especially difficult. We faced a lot of challenges even in the foundational stage before launch. In fact, it took us a long time to launch. When building a financial services platform, it takes a lot to get users to trust you, so we had to work through that. We also had the challenge of getting relevant stakeholders and ensuring alignment with product development. It was almost as if when we completed the task of solving a problem, another one arose.
However, we were keen on resolving the problems as soon as possible to prevent us from lagging. For me, it was just try always – this meant that with each problem that arose we tackled it with the mindset of not being afraid to fail. So, just try what you can do to fix the problem; if it doesn’t work, keep trying until you solve the problem.
Let’s talk about bamboo as an investment platform. Who are your target audience, how have you been able to reach them?
Our target audience is Africans everywhere who are looking to grow their wealth. The marketing team continuously works on interesting marketing initiatives such as partnerships, sponsorships, and influencer marketing, which target our “ideal users.” As I previously shared, as a company, we are not afraid of failing; we just try to fail fast so we can learn quickly. We have prioritised trying different approaches to meet our diverse audience, and this has helped us identify the best approaches and then scale them.
Our goal has been to make investing accessible, and we have been able to attain this by prioritising education for all our customers. Creating a platform is just one step, we also need to ensure our customers are able to understand it and enjoy all the benefits. Additionally, a significant percentage of our investors are first-time investors, so investment education is very important to help them navigate any uncertainties and fears that arise as they get started investing.
Through education we have been able to reach our target audience, this is possible as we teach people about the stock market and help build their confidence in making investment decisions.. We also ensure that our customer service is personalised and efficient to build trust and provide a trusted partner to guide our customers through their investment journey.
As a woman working in a male-dominated space, what challenges have you faced, and how have your background or personal experiences influenced your approach to leadership and innovation?
I get asked this question often, and I don’t feel like I have come up with a “satisfactory” answer. I don’t think I’ve faced any “challenges” specifically because I’m a woman, which I recognise as a privilege. Because of this, I don’t spend a lot of time thinking about being a woman in the tech space; in fact, the only time I reflect on this is when I’m asked during interviews. I’m just Yanmo who runs Bamboo, and I’m focused on running my business.
I don’t think it happened consciously, but our team is evenly split across genders at the board, management team, and company-wide levels. This means that in every part of our business, from strategy to product development to hiring, there is female input and representation to prevent gender disparities in the user or employee journey.
Generally, I think I am very blessed, and I have been very lucky, so this probably affects my approach to leadership and innovation by making me more likely to try things, and I encourage my team to try new things.
In marketing and product development, have you noticed any trend with women in regards to investment?
Currently, our customer base has more men than women. We’ve observed a trend suggesting that women may be generally more risk-averse than men. It’s important to clarify that women are not a monolith, and this trend does not represent all women. However, we’ve noted that women tend to be more cautious, often taking more time to research and fully understand an investment before committing.
Yet, it is important to note that since launch, we have noticed more women investing, and their population keeps growing. With several asset classes available in our products, we’ve been able to cater to the varying risk tolerances of our investors, supporting everyone in finding options that best meet their investment comfort levels.
For a beginner who is looking to get started in investments, what would you recommend they look out for?
I am team “just start!” even if it’s with just $10, just take that first step and invest. I’ve found that once your money is invested, you’re less likely to procrastinate and more motivated to grow your portfolio. If you’re ready to begin investing, Bamboo offers a wealth of resources to help you get started. After downloading the Bamboo app, you’ll have access to resources like our Telegram and WhatsApp groups for first-time investors, where you can connect with like-minded individuals. My advice is to stay consistent. By maintaining regular investments, you’ll be able to see your portfolio grow over time.
Do you think enough is being done to encourage women to invest and take control of their financial future?
That’s an interesting question. I believe that women should invest more and take greater control of their financial futures, especially considering the number of horror stories you hear. However, I’m not certain if enough is being done in this area. I’m a strong advocate for personal responsibility, so I think it’s crucial for women to take charge of their own investment journeys.
At Bamboo, we’re committed to empowering women, which is why we support partnerships with women-led initiatives. Many of our investment club leaders are women, and we ensure our initiatives are designed to encourage more women to invest.
I also personally strive to support and assist women entering the tech and investment sectors. Ultimately, I believe the key driver should be more women spearheading initiatives and motivating others. We need more women to start companies, take risks, and set ambitious goals—these actions will undoubtedly inspire more women. However, while I advocate for women taking on more leadership roles, I also think that women need to motivate themselves to push forward and achieve their goals. You need to “ginger’ yourself.
Reflecting on your journey to founding Bamboo, is there one thing you wish you knew before starting the company?
It’s been a lot harder and trickier than I thought it would be. When you begin, there’s a natural optimism when you imagine all the possibilities, but reality can be quite a shock because of the unexpected complexities. Looking back, understanding the foundational concepts of business operations early on would have been extremely beneficial, especially since at the start, you are more gun-ho and just doing everything to get things done and ensure growth.
It would have been nice to get more clarity on managing your finances, ensuring your books are in order, and developing a robust HR process for the employees. Additionally, it would have been helpful to begin documenting operational procedures from the outset. This would help provide clarity and streamline the process of improving and refining operations, preventing the constant need to play catch-up
If you were asked to give advice to a woman looking to found a startup, what would you recommend?
Start! I mean it—just start in whatever way you can. As women, we often try to be fully prepared, lining up all our thoughts and considering a million and one iterations, which is great. But it’s crucial to get going, especially with a startup, because everything changes once it’s in the hands of the users. You want to quickly develop a product, test it, and have it out for the audience. While using the product, your customers will discover new use cases, and you will have more alignment on how to shape the product development process.
Wherever you are in the process, my top advice is to just start. If the idea is still just in your head, start by writing it down and fleshing out the details. If you’re not technical, maybe your next step is finding engineers, or perhaps it’s validating the market size to figure out pricing.
Each day, aim to get something done and grow a little bit more. You’ll be surprised at how much progress you can make if you start with whatever you have today and build on it each day instead of waiting to be perfect or to feel ready. Because honestly, no one ever feels completely ready. Just do it!
What’s the most unexpected lesson you’ve learned about the tech industry since you launched Bamboo?
I’m not sure if it’s specific to the tech industry, but in general, when it comes to running a business and growing something that looks shiny on the outside, everyone is just winging it. People are going through a lot more than it seems, and they don’t look like what they’re going through. They’re also making it work, figuring things out, and learning day by day. That’s something I’ve really come to realize. We’re all just winging it together.
How do you prioritise your self-care and maintain a healthy work-life balance, especially with the demands of running your own company?
My approach to prioritising and balancing is really about being flexible. It’s not perfect every day or every week. Sometimes, there’s a deadline or a meeting, and I have to work intensely—definitely an imbalance. Other times, I might be on holiday or just feeling burnt out, and then, it doesn’t balance out either. I try to make it work within these fluctuations.
I don’t work on Sundays unless absolutely necessary. I prioritise sleep, take naps when needed, and generally listen to my body. Finding pockets of joy throughout the day is crucial for me. Whether it’s listening to music, enjoying a glass of wine, or watching a show on Netflix while I work, these small pleasures make a big difference.
I also enjoy the flexibility of working remotely, which enables me to travel and work in different environments. This aspect of my lifestyle is refreshing and keeps me motivated. I try to integrate work and life as much as possible, often just taking my laptop along wherever I go. Acknowledging that every day won’t perfectly balance, I accept the ups and downs. Overall, I strive for a cumulative balance over time rather than a perfect equilibrium each day.
That’s actually interesting to hear for someone like me who struggles to maintain a healthy work balance.
Work-life balance, for me, is more about the overall picture rather than daily specifics. In the first year of starting Bamboo, maintaining a healthy work-life balance was a struggle. It’s crucial, though, to find pockets of joy throughout your day. If you enjoy your work, it doesn’t feel burdensome, so it’s important to integrate activities you love into your work routine.
The problem often arises when people rigidly separate work from life, setting distinct times for each. This can be challenging because work demands can feel urgent and important. By accepting that work is part of your existence, you can learn to fit it into your life more seamlessly. For instance, a friend of mine, who’s also a founder, brought her laptop to the beach, an event she might previously have skipped because of work.
Another example is from three weeks ago at a friend’s birthday, where the three of us ended up working on our laptops. This flexibility to mix work with personal moments is what I consider true work-life balance. It’s about making work fit your life in a way that still allows for meaningful personal experiences.
What do you envision for the future, with respect to Bamboo and yourself?
Our goal for Bamboo is to scale and empower Africans everywhere around the world to invest and grow their wealth. A decade from now, I hope we’ll have succeeded in this mission. To achieve this, we need to expand our asset classes and develop more products. We aim to scale our reach to include Africans living outside of Africa and to facilitate more investments into the continent. Hopefully, we’ll have made significant progress beyond our current status, enabling more people to secure and enhance their financial future through our platform.
What about you?
I think that’s it. A lot of how I envision my future is tied to Bamboo. So, hopefully, we’ll scale up and achieve all of that. There are also other things I haven’t gotten around to doing that I hope to explore more.
When you’re not the cofounder of Bamboo, what are your interests or hobbies? What keeps you motivated and passionate?
I love, love travelling. I work so I can fund my travel habits literally. In my ideal world, I’d just have enough money to be a digital nomad, travel around the world, and explore new places. I love every part of travelling, the culture, the food, meeting new people, and the overall experience. I also love to go out to eat and for drinks with my friends. I also love watching TV and sleeping. I think rest is essential and keeps me motivated. It’s always a privilege to get enough sleep whenever you want.
So, success for you personally would be having enough money to travel, spend time with your friends, and enjoy the niceties of life?
Yeah. Ideally, I want to do the things that make me happy, which are travel, hanging out with my family and friends, and exploring. That is what success means to me.
