from DION HENRICK in Cape Town
Western Cape Bureau
CAPE TOWN, (CAJ News) – CAPE Town Stock Exchange (CTSE), the fintech bourse has announced the closing of its R85 million (US$5 million) funding round.
The oversubscribed round was led by a new investor to the group, Imvelo Ventures, a venture capital investment company founded by Capitec Bank and Empowerment Capital Investment Partners.
This was with participation from Lebashe Investment Group, Pallidus Alternative Investments, Shaolin Investments Limited and Gary Stroebel, all existing investors in the CTSE.
In addition, the company has expanded its board, adding Mark Fitzjohn, Bruce Ndidi (both from Empowerment Capital) and Stephan Van Der Walt (Pallidus Alternative Investments).
“CTSE’s technology and financing innovation is changing the market’s capital and funding raise experience,” said CTSE Chief Executive Officer, Eugene Booysen.
He said CTSE was transforming what has historically been a long and complicated process into one that is more transparent, safe and simple.
Booysen lauded the CTSE’s team for achieving by innovating daily to reduce cost, risk, time and complexity in the capital raise process.
CTSE is grateful for investors’ confidence in the business and the opportunity before it.
“We believe this underscores the fact that our business plays a transformative role in growing the African economy from Cape to Cairo,” Booysen said.
Mark Fitzjohn, a Director of Imvelo Ventures, said the firm was always looking to fast-track the growth ambitions of South African entrepreneurs.
“We are excited to partner with such a strong team,” Fitzjohn said.
CTSE, previously known as 4 Africa Exchange, was founded in 2015 in response to South Africa’s transitioning capital markets.
– CAJ News