Tech in Africa
Based in Johannesburg, Merge raised $100,000 from the Nigerian investment vehicle Platform Capital. Often dubbed as the ‘tinder’ for investors and entrepreneurs, Merge was founded in 2017 by two school friends, Zander Matthee and Brandon Bate. The app connects investors and entrepreneurs. The two cofounders are 22 years old.
Platform Capital announced the deal yesterday Ventureburn confirmed from Matthee that they had received the first deposit of the funds totaling $24,000 as of Friday, June 5. Zander was upbeat over how his platform has attracted over 700 entrepreneurs and over 160 ventures have signed up thus far. An extra 118 has signed up thus far.
In total, 300 interactions between entrepreneurs and investors have taken place through the platform. In their earlier statement, Platform Capital pointed out how Merge has joined with Silicon Valley firm Aspenify to automate their connectivity process. They also joined WhiteSpace X a global network of strategic accelerators.
Most users of the Merge App happen to reside in South Africa, however, there are clients from Nigeria and the United Kingdom. Apparently, the duo intends to expand its footprint to West Africa. The startup had earlier netted $41,643 in angel investment from angel investors Jason Levin and Chris Peters. Exposure from a feature on Entrepreneur magazine earned them that investment.
The investment from Platform Capital arose from a pitch session at the SA innovation summit held in Cape Town. In addition, the two founders have injected R20,000 of their personal money into the business.
