SOUTH AFRICA – The Cape Town Stock Exchange (CTSE), the city’s fintech stock exchange, has closed out an 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,
It also saw a participation from Lebashe Investment Group, Pallidus Alternative Investments, Shaolin Investments Limited and Gary Stroebel, all existing investors in the CTSE.
In addition, the company 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 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.”
The CTSE Group consists of three primary businesses: The fully-fledged Cape Town Stock Exchange, CTSE Registry Services and Capital Solutions.
The fully-fledged Cape Town Stock Exchange is the only other stock exchange licensed for equity and debt. The technology, listing rules, and issuer relationships are all managed in-house, making the listing process cheaper, faster, and more transparent.
The CTSE market caters to the needs of small and medium-sized companies. We help grow your business by giving you access to capital and funding and reducing red tape and costs.
CTSE Registry Services provides full company share registry, company secretarial, proxy solicitation and meeting management, and all related company share governance services for companies on the CTSE and other exchanges and is run off its own technology.
Having it in-house makes the entire listing process easier, cuts through red tape, and reduces costs.
Capital Solutions offers innovative capital raising solutions for small to mid-sized corporates in South Africa. We offer digital fund management services for SME funds and capital solution advisory for mid-sized corporates.
By digitising a significant part of the assessment process, we provide a safe, simple, and cost-effective way to access capital markets.
A front-to-back transaction management service for companies sourcing debt and equity capital. Companies have the option of a range of services to access both listed and unlisted capital markets.
Mark Fitzjohn, a director of Imvelo Ventures, said 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,” he said.
“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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