This makes it the second and third investments the firm has concluded this year.
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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 the continent for tech startups to access markets, channel partners and customers,” says founder of Cactus Advisors, Zach George, in a press release to Ventureburn.
“Corporate Africa with its powerful consortium of financial services firms, retailers, telecommunication firms, insurance companies and media houses – all of whom are yet to seriously tap into the innovation pipeline that tech startups offer – provides the ideal platform for commercializing proof-of-concept agreements with startups that serves as a perfect risk mitigation shield to investors looking for returns in the African venture capital sector.”
Based in San Francisco, Flutterwave is founded by African entrepreneurs and provides end-to-end payment technology and infraustructure to a range of financial processors.
SA-based fintech startup E-Factor has “created a digital factoring platform where companies can sell their receivable invoices through an auction to investors with the highest bid.”
IWI Africa allows for the aggregation of payments and commerce into a single platform for transaction on any mobile device.
Cactus Capital is the investment arm of Cacus Advisors.