Local venture capital company Imvelo Ventures has opened funding applications to innovative fintech entrepreneurs looking to scale their businesses. Up to ten successful applicants will receive a share of R1 million funding, business strategy and strategic marketing mentoring, access to extensive business networks, and strong B-BBEE credentials.
Xago, an innovative South African Fintech that focuses on an all-inclusive approach to moving money rapidly, has confirmed receipt of a substantial investment from Imvelo Ventures, a venture capital investment company founded by Capitec Bank and Empowerment Capital Investment Partners, and will continue to expand its cryptocurrency services and products into African markets for both businesses and individual clients.
Acumen Software has just concluded R 14 million Series A investments with Andzani Ventures and Imvelo Ventures, which are backed by Sappi Southern Africa and Capitec Bank, respectively to raise growth capital for its purposes of implementing its My Smart City citizen platform, with the support of Empowerment Capital Investment Partners My Smart City is a citizen platform that provides the public with an environment to engage all of the service providers in the city; this includes, Municipal Services, Emergency Services, Private Services, and Entertainment Services in The City.
The University of the Western Cape (UWC) has received one of its greatest gifts to celebrate its 60th anniversary – a multi-million rand partnership with Imvelo Ventures to empower a new generation of leaders who will transform the business world. Imvelo Ventures – a venture capital investment company founded by Capitec Bank and Empowerment Capital Investment Partners – will invest approximately R11-million over three years to the university’s data science programmes.
Imvelo Ventures a Venture Capital investment company founded by Capitec Bank and Empowerment Capital Investment Partners (www.empowerment.capital) has invested into MoneyWorks, a fintech start-up, to ensure a much-needed solution to the meagre financing currently available in the market to SMEs. The MoneyWorks solution has become even more important as SMEs and large businesses alike start their recovery from the economic shutdown caused by the covid -19 pandemic.
Enterprise and Supplier Development is arguably the most important element on the B-BBEE scorecard. The DTI recognised this by suggesting a higher emphasis on this element in the amended BEE Codes. Over 40 points of the BEE Scorecard are allocated to this element and it...