• BURN MEDIA
    • Memeburn
      Tech-savvy insight and analysis
    • Gearburn
      Incisive reviews for the gadget obsessed
    • Motorburn
      Because cars are gadgets
    • Jobsburn
      Digital industry jobs for the anti 9 to 5!
Featured image: Uprise.Africa CEO Uprise.Africa CEO Tabassum Qadir (CityNews INTL via Twitter)

Uprise.Africa crowdfunding platform nets investment from Silicon Valley VC

SA equity crowdfunding platform Uprise.Africa has secured an undisclosed investment from Silicon Valley based venture capital (VC) firm Nexxus Ventures.

In a statement yesterday (23 October), Uprise.Africa said the investment round was concluded on a R60-million evaluation. Uprise.Africa added that the investment will enable it to launch new deals on its platform in the coming months.

The investment, Uprise.Africa said, was attributed to the platform being the only regulated equity crowdfunding platform in South Africa and to the “significant experience” of the platform’s CEO Tabassum Qadir (pictured above).

Uprise.Africa chief marketing officer Inge Prins told Ventureburn today (24 October) that the funding will be invested across the business with a critical focus on “improving user experience and enabling us to scale”.

Uprise.Africa said the investment round was concluded on a R60-million evaluation

The crowdfunding platform said that it will use its partnership with Nexxus Ventures to focus on identifying SA businesses with high growth potential and will, in addition, facilitate further funding for global expansion.

Qadir said in an earlier statement that the partnership with the Silicon Valley VC firm will play “an important role” in linking SA businesses looking to raise capital for global expansion through investment from Silicon Valley.

In August, Uprise.Africa closed the first equity crowdfunding investment round in the country with Drifter Brewing Company‘s campaign raising a total of R3 889 000.

Read more: Uprise.Africa mulls 80 projects for equity crowdfunding, as Drifter raise hits R3m [Updated]
Read more:
 Craft brewer Drifter raises R1m in first day of equity crowdfunding campaign [Updated]
Read more: More than 30 sign-ups to Uprise.Africa SA’s first equity crowdfunding site
Read more: Uprise.Africa to launch first crowdfunding campaign this month says COO Schofield
Read more: SA equity crowdfunding site Uprise.Africa launches after response from FSB

Featured image: Uprise.Africa CEO Uprise.Africa CEO Tabassum Qadir (CityNews INTL via Twitter)

Author Bio

Daniel Mpala
Daniel's focus is on the African tech startup ecosytem. Besides that, he is passionate about online security, privacy and international affairs. He studied International Relations and Media Studies at the University of the Witwatersrand. More