FNB is the latest service provider to jump on the data price bandwagon. Data prices on its FNB Connect network will decrease by up…
SA bank and asset management group Investec currently looking to invest in three or four early-stage SA fintech startups, Investec Emerging Companies spokesperson Akash Maharaj has confirmed.
Earlier this month, the bank invested an undisclosed amount in Retail Engage‘s Bonsella loyalty and rewards programme.
Responding yesterday (30 July) to an email from Ventureburn, Maharaj (pictured above) would not disclose the details of the equity investment deal.
He however stated that this was the first deal for the Investec Emerging Companies mandate — which forms part of Investec Private Capital and was launched in July last year — and aims to invest in “innovative, early-stage companies with high growth potential”.
‘Investec Emerging Companies recently concluded a deal with Crossfin to identify three to four early stage startups to invest in’
Investec’s Emerging Companies mandate, he explained, is the group’s global equity “investment platform” and includes equity mandates and funds in Australia, UK, India, Hong Kong and Israel.
Maharaj explained that Investec Emerging Companies had recently concluded a deal with Crossfin to identify three or four early-stage fintech startups. Investec would utilise Crossfin’s angel funding arm, Blue Garnet Investments to make the investments in the selected startups.
He added that the bank was “excited” to work with reputable and proven partners like Crossfin and Bonsella. “We see it as a strategic investment in entrepreneurs, their innovative ideas and in the future of financial services,” he said.
Maharaj urged those who are running early-stage, high-growth businesses which are post-product, post-revenue, and looking to scale, to find out more on the Investec Private Capital website.
Featured image: Investec Emerging Companies’ Akash Maharaj (Supplied)