Cape Town Stock Exchange (CTSE), a fintech capital raising bourse, announced today the closing of its R85 million funding round.
In addition, the company expanded its board, adding Mark Fitzjohn, Bruce Ndidi (both from Empowerment Capital) and Stephan Van Der Walt (Pallidus Alternative Investments).
In a statement, the stock exchange says 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, with participation from Lebashe Investment Group, Pallidus Alternative Investments, Shaolin Investments Limited and Gary Stroebel, all existing investors in the CTSE.
“CTSE’s technology and financing innovation is changing the market’s capital and funding raise experience,” says CTSE CEO Eugene Booysen.
“CTSE is transforming what has historically been a long and complicated process into one that is more transparent, safe, and simple. I am proud of what the CTSE’s team has achieved by innovating daily to reduce cost, risk, time, and complexity in the capital raise process.
“We are grateful for our newest and existing investors' confidence in our business and the opportunity before us. We believe this underscores the fact that our business plays a transformative role in growing the African economy from Cape to Cairo.”
Mark Fitzjohn, a director at Imvelo Ventures, says the firm is always looking to fast-track the growth ambitions of South African entrepreneurs.
“We are excited to partner with such a strong team. They are leading experts in the next wave of exchange and investment banking technologies such as corporate finance, capital raise, funding, securities trading, custodianship, corporate governance, and shareholder management.
“Their cloud-based technology and end-to-end exchange architecture, combined with a marketplace of supporting partners, will allow them to rapidly and cost-effectively bring innovative, data-driven solutions to the market. This will enable us to push the boundaries of capital and funding raise using data and AI with new age exchange infrastructure.”
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