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  • Fourex, SA-owned UK fintech startup, takes home top British award

    South African-owned UK company Fourex, has been awarded the Duke of York New Entrepreneur of the Year award at the 2016 Lloyds Bank National Business Awards UK. The company creates kiosks for currency exchange. Users can exchange money from over 150 currencies, paid out in Pounds, Euros, or Dollars, with no fees or commission. It is funded out of Johannesburg by Genesis Capital Partners. According to the awards website, "Fourex ticked all the boxes to win the New Entrepreneur of the Year Award, they impressed the panel with how well the concept had been thought through and then executed." "Their relentless drive for innovation has culminated in...

  • Company Office

    Judges announced for the IAB SA Bookmark Awards 2017

    The IAB SA has announced the list of judges that will decide which contenders will scoop a coveted Bookmark Award in 2017. The team of judges, led by Jury President John Dixon, features more diverse industry players than ever before. Josephine Buys, CEO of IAB SA says, "Our mid-year, judges workshop yielded valuable insights from the best in the business for judging the Bookmarks 2017. We have secured the time and talent of some of the brightest minds in digital and have expanded our pool of experts to include gamers, innovators and engineers.” Judges will now fall under the categories of...

  • BeSpecular CEO wins Innovator Recognition Award from MTN

    The CEO of tech startup BeSpecular, Stephanie Cowper has been awarded the Innovator Recognition Award at the inaugural MTN Women In ICT Awards "Partnering for Change" awards. According to the MTN website, the "category recognises women that have introduced new methods, ideas, or products that are contributing in one way or the other to the delivery of a bold, new, digital world." The BeSpecular app works by allowing volunteers with sight to help the visually impaired. Users can take a photo of an object or situation, upload it, and have it identified by those who are able to assist. Since the app's launch on both iOS...

  • French Tech launches first of its kind incubator in Cape Town

    International startup ecosystem hub French Tech, has launched its first incubator in SA. Located in Century City, Cape Town, the incubator is also the first of its kind in the French Tech system. "This building really is the first physical incubator in the worldwide French Tech network," says lead ambassador of French Tech CPT Hub, Christophe Viarnaud. When asked about why the incubator launched in SA as opposed to other African countries, Viarnaud told Ventureburn this was due to the financial and legal system being easier to navigate, as well as English being the primary language. It is one of 22 French Tech...

  • Greener pastures for WeFarm after £1.3m seed funding round

    Peer-to-peer agritech startup WeFarm has raised £1.3-million in seed funding. The round was led by UK-based VC, LocalGlobe. "Connecting farmers to relevant advice from other farmers is a completely new approach," says founder and CEO of WeFarm, Kenny Ewan, in a press release. WeFarm's network allows for small-scale farmers to share and access crowdsourced information from other farmers. "The majority of information delivered to people living in poverty is top-down, whereas we are using a crowdsourcing model to unlock generations worth of grassroots knowledge, ideas, and experience among farmers." The seed funding amount will be used to grow WeFarm's network. WeFarm has a community of farmers across Africa...

  • AlphaCode attracts over 1000 members

    Fintech accelerator AlphaCode has reached over 1000 members in a single year. The Rand Merchant Investment (RMI) initiative has seen eight member-to-member deals and invested R9-million into 11 various black-owned businesses through their partnership with Bank of America Merrill Lynch. AlphaCode has also invested in Merchant Capital, which provides alternative working capital for SMEs in SA. "The Rand Merchant Group has a history of partnering extraordinary entrepreneurs who have built disruptive, successful businesses such as RMB, Discovery and OUTsurance," said senior investment executive at RMI, Dominique Collett. Companies that joined AlphaCode cover various sectors of industry. These range from lending, payments and financial literacy to blockchain...

  • Iono.fm receives R2.5m funding from Angel investment round

    Audio distribution startup iono.fm today announced it has received R2.5-million in funding from an Angel investment round. The round was led by financial firm Clifftop Colony, and includes a range of unspecified local and international Angel investors. "With a local and international presence of the Angels and Clifftop Colony itself, the consortium of investors are ideal partners for us as we continue to scale our business both domestically and globally," noted CEO of iono.fm, Ryan Dingley. The funding will be used to bolster iono.fm's streaming services, as well as domestic consolidation. "Iono.fm is the third company in our portfolio that we are building alongside...

  • Fintech startup My Treasury helps users with savings rates

    Having launched at the end of September, My Treasury, is a free-to-use startup service which provides financial savings solutions based on a few questions. The startup is founded by Michael Kransdorff, Simon Shear, and Daniel Rubenstein. The platform uses a complex algorithm with the system scouring 670 different savings rates at eight institutions. These institutions include the likes of Standard Bank, Absa, Nedbank, FNB, and Investec. Users are asked to fill in questions pertaining to their savings range as well as how much they'd like to save. The algorithm takes the users answers and offers them saving solutions based on what they've answered. My...

  • Fintech Circle Innovate announces partnership with CiTi

    London-based fintech accelerator, Fintech Circle Innovate has announced a partnership with one of SAs oldest tech hubs, the Cape Innovation and Technology Initiative (CiTi). The partnership will aim to fast track fintech development in SA as well as the rest of the continent. "The partnership with The Cape Innovation and Technology Initiative (CiTi) is a logical and obvious choice for us," said CEO and co-founder of Fintech Circle Innovate, Nicole Anderson, in a press release to Ventureburn. "CiTi has a long-standing history as the most experienced incubator in Africa, plus we are both leaders in innovation in our regions. The opportunity and use case...

  • Cactus Capital invests over R1-million in African startups

    Investment firm Cactus Capital has announced investments in growth-stage fintech startups Flutterwave and E-Factor. This makes it the second and third investments the firm has concluded this year. The firm's investment was in Ugandan based mobile payment aggregator, Intel World International (IWI Africa), which happened in Q1 of 2016. When asked about the amounts invested, Cactus Capital could not give an exact amount due to legal reasons, but said all three investments have a combined amount of over R1-million. "As Cactus Advisors, simply investing into high growth, high impact tech-enabled ventures on the continent is not good enough, unless we critically have the right enabling environment on...

  • Domestly adds AppsAfrica Award to its trophy cabinet

    Cape Town-based startup Domestly has this week won the Best Disruptive Innovation Award at the AppsAfrica Awards 2016. This comes after the company won the overall MTN Business App of the Year accolade in August 2016, and an expansion into Gauteng a month later. The Awards, which took place in Cape Town Monday night and recognises entries from over 25 countries, "celebrate the enormous growth in mobile, technology and entrepreneurship in Africa". Speaking in a press release, Domestly noted that these small wins are enabling the company to grow across the country. "It is achievements and recognition like this that have allowed us...