Grace Ashiru
The Cape Town Stock Exchange (CTSE) has made public its decision to bring to a close a funding round worth $5 million that was oversubscribed and was led by a new investor, Imvelo Ventures.
Capitec Bank and Empowerment Capital Investment Partners are responsible for establishing the venture capital investment firm Imvelo Ventures.
Existing CTSE investors Lebashe Investment Group, Gary Stroebel, Pallidus Alternative Investments, and Shaolin Investments Limited are the other participants in this round. Additionally, Mark Fitzjohnand, Bruce Ndidi from Empowerment Capital, and Stephan Van Der Walt from Pallidus Alternative Investments have been added to the company’s board of directors after it underwent the expansion.
The financial infrastructure of the CTSE is entirely digital in that it functions on a cloud-based platform and uses its in-house registration, which is powered by proprietary registry technology, facilitating an overall more straightforward, more cost-effective, and time-efficient trading procedure, as well as listing companies.
When asked about the funding round, CTSE CEO Eugene Booysen stated that the exchange’s technology and financing innovation is changing the experience of raising capital and funding in the market. This process, which was previously lengthy and complicated, is now more transparent, safe, and straightforward.
We are appreciative of our newest investment as well as our previous investors for having faith in our company and the opportunity that lies ahead of us. He said, “this serves as further evidence of the fact that our company plays a revolutionary role in the expansion of the African economy from Cape to Cairo.”
Mark Fitzjohn, head of Imvelo Ventures, said that the company is constantly looking to fast-track the growth objectives of South African entrepreneurs. Imvelo Ventures is the principal investor in the company. They highlight the capacity of the CTSE’s exchange and investment banking technology to realize that objective.
With their cloud-based technology, end-to-end exchange architecture, and marketplace of partners, they can quickly bring new, data-driven solutions to the market at a low cost. As he further explained, this will make it possible for us to push the frontiers of capital and funding raise combining data and AI with new age exchange infrastructure.
When it first opened its doors in October 2021, the Cape Town Stock Exchange committed to attracting companies from all over the continent by offering listings at prices that were a third of what was being charged by the Johannesburg Stock Exchange, which is the largest stock exchange in Africa in terms of market capitalization.
