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Venture capital

  • Cape Town startup Digemy inks deal with pharma company after R2m funding

    Cape Town Startup Digemy has signed an international pharmaceutical company as a client for their white label training app, the startup's co-founder and CEO Kobus Louw said today. The agreement, which Louw said was concluded earlier this month, follows R2-million in funding the startup received in February from Greenwold Capital (which ordinarily invests in real estate) in return for a 25% stake in the company. The startup is based in the city's Durbanville suburb and was launched in November last year by Louw (pictured above, left) -- a former credit risk specialist -- and tech entrepreneur Carl Wallace (pictured above, right). Wallace runs two tech companies at present --...

  • P2P storage-space platform Sxuirrel secures R2.4m in seed funding

    SA startup Sxuirrel has secured R2.4-million in seed funding from an undisclosed investor. The startup -- which is based at Stellenbosch incubator Launchlab where founders Michael John Dipppenaar, Henri Bam and Michael Louis developed a peer-to-peer storage and space solution -- made the announcement yesterday. Dippenaar, who is also CEO, revealed that the deal -- which was signed two weeks ago -- had been over three months in the making, after the startup was approached by the investor that took an interest in the "disruptive effects" of the platform, which the three launched last year. Dippenaar declined to name the investor. The deal will see the...

  • I believe South Africa will sort itself out, says UK angel invested in country

    While many other investors may have been frightened off by South Africa's unstable economic and political environment, UK angel investor Kevin Gaskell says he believes in the country. "I like South Africa. And I believe South Africa will sort itself out," says Gaskell. "I have faith in the long-term." While he admits that he hasn't realised any returns yet on the three South African tech firms he has invested in since 2012, he reckons the country is a good investment bet. "I'd say keep looking at South Africa because it's a thriving centre for technology, there are some good companies around. But you've just got to be...

  • Travelstart acquires majority stake in accommodation site SafariNow.com

    SA travel booking company Travelstart today announced that it has bought a majority stake in Cape Town-based SafariNow.com -- South Africa's largest accommodation booking website. Travelstart founder and CEO Stephan Ekbergh was not immediately available for comment, but in announcement by Travelstart in a press release earlier today the company said it would not disclose terms of the acquisition. It follows the news in February last year that the company had secured $40-million from Amadeus Capital Partners and MTN. Read more: Travel booking site Travelstart lands $40m, asserts investor confidence SafariNow.com, which was founded in 1999 (the same year as Travelstart -- before the firm later moved from Sweden to South Africa), lists accommodation over...

  • Joburg wedding gift service Wrapistry in R4m deal [Updated]

    Online gift registry startup Wrapistry has signed a deal to secure a R4-million investment from Section 12J venture capital fund Anuva Investments and Genesis Capital. The Johannesburg-based startup's online shop and wedding registry service allows couples to source various gifts -- including both products and experiences such as travel trips. Speaking to Ventureburn last week, Wrapistry CEO Jed Shein, 28, said R2.25-million would be invested upfront by each investor, in return for a 10% stake in the company for each investor. The remainder would be invested upon the achievement by the startup of certain targets in return for a further five-percent stake each. So far the three-year old company has assisted...

  • HAVAÍC announces R4.5m investment in Cape healthtech startup Recomed

    South African venture capital (VC) firm HAVAÍC announced today that it has led a fully subscribed equity raise of R4.5-million in Cape Town healthtech startup RecoMed. The investment was secured by HAVAÍC, the Association for Savings and Investment South Africa's Enterprise and Supplier Development (ASISA ESD) Fund, and Growth Grid Venture Capital Partners. It comes after Recomed founder Sheraan Amod (pictured above) last week revealed that his startup, which he founded in 2013, had been in talks with a funder for a second-round of funding. Read more: SA medical bookings platform Recomed set to announce new funding round The startup recently began white labelling its platform – which allows...

  • SA Home Loans acquires 49% stake in PropertyFox

    Mortgage finance provider SA Home Loans today announced that it has acquired a 49% stake in online real estate agency PropertyFox. PropertyFox co-founder Crispin Inglis (pictured, right) would not disclose financial figures behind the deal but did reveal to Ventureburn in a phone call that the money will drive expansion and strengthen its presence in South Africa through further tech development and marketing. Inglis said the deal has been in the making for a year after the startup approached SA Home Loans. The deal will see two members from SA Home Loans sit on PropertyFox's board. The founders will still retain a controlling stake in...

  • Everything you need to know about SA’s tech startup ecosystem [updated 2017]

    Update: Are you a venture capitalist or an angel investor looking to invest in a company? Are you an entrepreneur looking for capital or other opportunities? Are you an aspiring startup owner looking for assistance? Well, you have come to the right place. Ventureburn presents the 2017 updated guide* to South Africa’s startup scene. This article is the most comprehensive guide for anyone who wants to get involved with, or have a better understanding of, the country’s fast-growing startup space. It is a part of a series of articles we will pilot, which will also include the West African and East...

  • Fintech startup i-Pay secures R10m investment from Kalon Venture Partners

    Johannesburg-based fintech startup i-Pay has secured a R10-million investment from venture capital (VC) firm and registered 12J VC fund Kalon Venture Partners. i-Pay's electronic fund transfer (EFT) processing system automates EFT transactions and allows users to make instant, secure payments. Kalon Venture Partners CEO Clive Butkow said the deal was closed on Monday (13 November). "We are confident that it is 10 times better than anything on the market," Butkow told Ventureburn in a phone call. He said the firm's investment into the fintech startup had been influenced by "the incredible strong team" around i-Pay as well as the startup's growth over the past...

  • Funder’s focus on making social impact key in $24m deal says JUMO founder

    South African fintech startup JUMO opted to go to Finnish development finance company Finnfund for debt funding, because the financier is "very ethical" and "focused on making meaningful social impact", says the startup's founder and CEO Andrew Watkins-Ball. JUMO is a Mauritius-headquartered financial services platform that provides mobile financial services in emerging markets. Last week the startup announced that it had secured $24-million in funding in a loan facility arranged by Gemcorp Capital, a London based investment management firm which already has an undisclosed equity stake in the startup. Finnfund participated in the round with $6-million. The funding is to support Jumo’s expansion in Africa and...

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