Fintech-focused Cape Town Stock Exchange raises $5M from Imvelo Ventures
South African Cape Town Stock Exchange (CTSE), has secured a $5M (R85 million) financing round led by Imvelo Ventures, a new investor to the group and a venture capital investment firm founded by Capitec Bank and Empowerment Capital Investment Partners.
Lebashe Investment Group, Pallidus Alternative Investments, Shaolin Investments Limited, and Gary Stroebel, all current investors in the CTSE, also participated in the oversubscribed round. The business also increased the size of its board by appointing Mark Fitzjohn, Bruce Ndidi, and Stephan Van Der Walt (all from Empowerment Capital) (Pallidus Alternative Investments).
Eugene Booysen, CEO of CTSE, expressed excitement on what the CTSE team has accomplished as it has constantly innovated to lower cost, risk, time, and complexity in the Capital raise process.
“CTSE’s technology and financing innovation is changing the market’s capital and funding raise experience. 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,” said Booysen.
About Cape Town Stock Exchange
Small- and medium-sized companies can trade on the CTSE, a stock exchange in South Africa. Its target market consists of growth-oriented businesses that want to strengthen the economies of South Africa and the continent as a whole. Furthermore, it is only one of two exchanges in the nation authorized to list both stock and debt.
The listing procedure is more transparent, less expensive, and faster because the technology, listing regulations, and issuer relationships are all controlled inside. Small- and medium-sized businesses can get their needs met on the CTSE market. Through providing you with access to money and liquidity as well as by lowering costs and red tape, we assist in the expansion of your firm.
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,” said Fitzjohn.