Cape Town’s Stock Exchange Completes $5-Million Funding Round

Today, the $5 million financing round for the city’s fintech stock exchange, the Cape Town Stock Exchange (CTSE), was closed.

The business also disclosed that Mark Fitzjohn, Bruce Ndidi, and Stephan Van Der Walt (all from Empowerment Capital) have joined the board (Pallidus Alternative Investments).

Lebashe Investment Group, Pallidus Alternative Investments, Shaolin Investments Limited, and Gary Stroebel, all current investors in the CTSE, also participated in the oversubscribed round, which was 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.

The market’s experience raising money and funding is evolving as a result of CTSE’s technological and financial innovation. What was once a drawn-out and difficult procedure is now being transformed by CTSE into one that is more open, secure, and straightforward. Eugene Booysen, CEO of CTSE, said, “I am proud of what the CTSE team has accomplished by continuously innovating to minimize cost, risk, time, and complexity in the Capital raise process.

“We appreciate the faith that both new and current investors have placed in our company and the opportunity that lies ahead. This, in our opinion, emphasizes the fact that our company contributes significantly to the expansion of the African economy from Cape Town to Cairo.

Imvelo Ventures Director Mark Fitzjohn stated that the company is constantly seeking to expedite the expansion goals of South African business owners.

“We are thrilled to work with such a capable group. They are industry leaders in fields like corporate finance, capital raising, funding, securities trading, custodianship, corporate governance, and shareholder management, according to Fitzjohn.

“Their end-to-end exchange architecture and cloud-based technology, along with a marketplace of assisting partners, will enable them to quickly and affordably introduce cutting-edge, data-driven solutions to the market. With new age exchange infrastructure, this will allow us to push the limits of capital and financing raise utilizing data and AI, he says.