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alphacode - News

  • FinChatBot to improve customer service, reduce costs for financial services

    If you’ve had enough of being put on hold, speaking to call centres in India or waiting for that promised call back on your query from people who never call back, you are probably ready for a chatbot. Chatbots have arrived in South Africa and are kicking off in financial services. Chatbots are life like text based online conversations to connect businesses with their customers. These conversations are possible on websites, Facebook messenger or on apps. They are intelligent conversations made possible through artificial intelligence and machine learning. If you think spending 45 minutes on the phone is absurd to take...

  • 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 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...

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