Fund One includes a portfolio of tech assets, focusing on Communication, Engineering, Fintech and Healthtech
with a mix of start-up and expansion capital.
A significant part of the business model for Finfind is lead generation and loan origination for funders of SME finance. Our stakeholders include Business Leadership South Africa, the Banking Association of South Africa, USAID and the Department of Small Business Development through its finance subsidiary, SEFA (Small Enterprise Finance Agency). A National Finfind Steering Committee has been established and represented by senior members of each of our Stakeholders. This committee is chaired by the Chief Director at the Department of Small Business Development. After exposure at the World Economic Forum held in Durban in May 2017, where Darlene Menzies (the founder and CEO) won the World Economic Forum’s 2017 Five Top Female Tech Entrepreneurs in Africa, numerous opportunities for international expansion have started opening up.
Incorporated into the Spazapp platform is an electronic wallet for spaza shop owners which allows them access to an entire range of banking facilities otherwise not afforded to the bottom end of the market. Spazapp has partnered with Blue Label and African Unity Life to bring other value added products into the informal market.
Spazapp has launched SpazaSparks, a self-employment program developed for youth. Sparks, once trained, use the app for mobile trading and supporting spaza store owners. Spazapp is a partner in the Tshepo 1Million project, led by the Gauteng Provincial Government, with the aim of creating employment for one million youth.
Although the accounting software package space is relatively crowded, SMEasy is unique in its simplicity and target market. We identified a number of cross-sell opportunities between Finfind and SMEasy, and took a strategic view to assist the founding team recapitalise and buyout some of the early investors. This investment, plus Finfind, allows us the opportunity to leverage off an expanding SME ecosystem. One such opportunity through Finfind includes a partnership with the Gauteng Provincial Government to co-develop and deploy a shared services centre for identified SME’s as part of the Tshepo 1Million project. This shared services centre will assist SME’s readying themselves for access to finance.
Our investment has enabled Home Cloud to move up the value chain. Not content to stay in the low-margin volume game of being a dealer, Home Cloud has started to own its own customer book (which is driving strong revenue growth), and launched various new initiatives into the market. These initiatives required capital investment, and will structurally improve the business’s quality of earnings in time. Innovation remains at the epicenter of this business.
TrackBox Technologies is the preferred technology partner in the Ethekweni Municipality and other pilot projects are under way with other major metros across the country.
Have a look at these stats HERE for a fuller picture of the work we get up to at TrackBox.
What excited us about this investment was the lack of competition, and the calibre of the customers that they have brought onto their books. There have been serious engagements or MOU’s signed with the likes of Old Mutual, Bestmed, Medscheme and Inside Active, but the biggest fish to land so far has been Netcare. HealthCloud has been chosen as Netcare’s preferred provider of health information to feed through to its customers, which is excellent recognition for the business model.