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Company Office

  • From operating under a tree, meet man who today owns Street Parking Solutions

    From running his business from under a tree in an abandoned parking lot in Claremont, Cape Town -- entrepreneur Zunade Loghdey today runs a parking management company that employs over 300 parking marshals. Loghdey's Street Parking Solutions (SPS) currently manages the City of Cape Town’s parking solutions in the city centre. In 2008 when he started SPS he took to managing just 100 parking bays in Claremont. At the time Loghdey (pictured above, right) could not afford an office. “I found an abandoned bowling green in Bowwood Road, Claremont, it’s still there today. The tree that you see in the parking lot is the tree that...

  • Why all fintech startups should consider joining a global innovation hub

    Entrepreneurs in the fintech space have been shaking up the banking industry for a number of years and their impact continues to grow, making it imperative to collaborate with the startups that are helping to shape the future of financial services as we know it. Stories of entrepreneurs who "cracked the code" in the basement and became overnight billionaires are plentiful, but in most cases, a great idea is only half the battle won. And in most cases, successful entrepreneurs have to invest time and money over long periods to get an idea off the ground and through to execution...

  • AlphaCode makes fourth investment, in Luno an international bitcoin platform

    South African bitcoin trading platform Luno today (19 September 2017) announced its expansion into 35 new markets across Europe, and the conclusion of a R120-million Series B funding round, led by London-based Balderton Capital, one of Europe’s leading venture capital firms. Rand Merchant Investments, through its fintech investment arm, AlphaCode, and existing investors Digital Currency Group also participated in the round. This follows Luno’s R60m Series A round, which was led by emerging market tech giant Naspers. To date, AlphaCode has invested in Prodigy Finance (August 2017), Entersekt (June 2017) and Merchant Capital (June 2016). Luno is one of the world’s most popular Bitcoin platforms, making it easy for people to buy, sell and learn about digital...

  • SA fintech pioneers Sureswipe, Traderoot partner to disrupt payment space

    Two of South Africa’s first financial technology companies have announced a strategic business relationship that is set to change the fintech payment space. Traderoot and Sureswipe have made available a quick, comprehensive and Payment Card Industry (PCI) compliant payment platform that reverses the relationship SMEs and merchants have with traditional financial institutions and places control of business processes in their own hands. Sureswipe’s managing director Paul Kent (pictured left, above) says this new approach to payment transactions is set to disrupt the current mindset of the industry, as merchants no longer have to be locked into single relationships with large financial institutions that...

  • Parkfind claims to be first in Africa with real-time search, navigation and payment

    Tired of driving around Cape Town wasting both fuel and time looking for parking? A company that manages the city's parking claims its app Parkfind is the first in Africa that allows you to search for, navigate to and pay for parking in real-time. "Parkfind is the s**t," says Zunade Loghdey. He's the founder of Street Parking Solutions (SPS) the Cape Town-based on-street parking solutions company that launched the parking app in July. "We are the first in Africa and one of two or three in the world with a full time search, navigation and payment application,” says Loghdey. Parkfind utilises the best of parking technology to...

  • SA founder of Fintech platform Prodigy Finance announces over R3bn fundraise

    International fintech platform Prodigy Finance, which has developed the world’s first borderless credit model, today (21 August 2017) announced a R3.19-billion fundraise. The amount includes a R532-million Series-C equity round led by venture capital firm Index Ventures, with participation from Balderton Capital and AlphaCode; and a R2.66-billion debt facility led by a global investment bank. The company, which has 126 staff across offices in London, Cape Town, and New York, offers loans to postgraduate students accepted into business, engineering, law and public policy degrees at the world’s top universities, such as Harvard, Oxford, INSEAD and the University of Cape Town. Since it was established in 2007, the company has provided more...

  • Tremendous innovation in sophisticated fintech payments in South Africa

    In 2016 $5.5-billion of venture capital investment went into payments startups. This represented 22% of global fintech investment activity. In South Africa, payments still dominate the fintech landscape. At AlphaCode, a club for fintech entrepreneurs, we are seeing a tremendous amount of innovation in payments as SA consumers seek new ways to transact. Due to SA’s sophisticated banking infrastructure, we possess strong skills in this sector and many AlphaCode entrepreneurs are finding better and more efficient ways to transact. Here below are some of the really innovative startups operating in the payments space that fulfil specific customer needs. Including the informal economy Due to...

  • New integrated payment, POS solution allows retailers to transact in 2 seconds

    The South African financial technology company that brought card-payment systems to smaller businesses as far back as 2008 has just announced a new integrated payment solution that will benefit franchise store owners, larger independent retailers and franchise owners. Sureswipe is SA’s first independent payment service provider to offer a fully integrated payment solution with acquiring services. Paul Kent, managing director of Sureswipe, says: “Our new Integrated Payments product has been developed for higher volume businesses that use a Point-of-Sale system. It reduces manual hours spent on reconciliations, makes customer payments quicker and safer, and cuts both costs and complexity. We have brought functionality...

  • Barclays Accelerator programme in full swing

    The 2017 Barclays Accelerator is in full swing at the Rise fintech innovation hub in Woodstock, Cape Town, with ten fintech companies on site, participating in a tried and tested start-up accelerator programme presented by Barclays Africa in conjunction with US-company Techstars. The 13-week programme sees startup fintech companies follow a growth acceleration curriculum designed by Techstars, which has supported more than 900 technology startups across 23 cities around the world. The experience is enhanced through the involvement of a network of local and global mentors, as well as Barclays Africa executives, who help shape participants’ business plans and development. The...

  • Barclays accelerator announces latest participants in African programme

    Barclays Africa Group and Techstars today released the names of 10 financial-technology (fintech) companies selected to participate in the second Barclays Accelerator programme, powered by Techstars. The successful companies, all focused on providing fintech solutions in Africa, will participate in a 13-week growth acceleration programme at Barclays Africa’s Rise fintech innovation hub in Cape Town from mid-May. The 2017 programme participants are: Flexpay (Kenya), Howler (South Africa), Spatialedge (South Africa), Abe.ai (USA), The Sun Exchange...