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Social enterprise platform Wyzetalk has secured a Series A funding round worth R8 million through Clifftop Colony Capital Partners, a Cape Town-based financial services firm focused on African VC and private equity investments. The round was contributed to by a selection of investors, including Nairobi-based Savannah Fund.
Wyzetalk’s cloud-based platform offers businesses a way to collaborate with colleagues, employees, customers and suppliers producing greater brand engagement and improved productivity among other benefits.
Gysbert Kappers, co-founder and CEO of Wyzetalk, says: “Working with Clifftop as our corporate finance partner has allowed us to credibly access a high-profile local and global investor base and raise significant amounts of capital for Wyzetalk as a South African startup, whilst also protecting the interests of the founders and the seed investors.”
Oliver Drews, CEO of Clifftop Colony said that investors had been impressed with Wyzetalk’s team as well as how the company has managed to build a “leading emerging market focused social business platform…” Drews adds that Clifftop Colony only focused on those investors who could contributed more than just capital in investment, but could help take the business to the next level.
Managing Partner of Savannah Fund, Mbwana Alliy, commented that Wyzetalk had an impressive footprint in the South African market but the next step was to bring the fund’s “…Pan-African network to the table to make Wyzetalk a business solution for leading companies across the continent.”
Wyzetal’s clients include the Protea Hotel Group, Cash Crusaders and Tracer Mobile Workforce.
With this new round of funding Clifftop Colony has facilitated investment totaling R20 million for Wyzetalk.