Cactus completes fintech investments
Business advisory firm Cactus Advisors has closed its second and third investments of CY 2016 into African fintech startups Flutterwave and E-Factor.
"As Cactus Advisors, simply investing into high growth, high impact tech-enabled ventures on the continent is not good enough, unless we critically have the right enabling environment on the continent for tech startups to access markets, channel partners and customers. Corporate Africa with its powerful consortium of financial services firms, retailers, telecommunication firms, insurance companies and media houses - all of whom are yet to seriously tap into the innovation pipeline that tech startups offer - provides the ideal platform for commercializing proof-of-concept agreements with startups that serves as a perfect risk mitigation shield to investors looking for returns in the African venture capital sector", Zach George, Cactus Advisors' founder, said.
Flutterwave is a San Francisco-based team of African entrepreneurs, fintech and mobile payment experts that provides end-to-end payments technology and infrastructure which enables payment service providers, global merchants, licensed money transfer operators and pan-African banks to process payments to and from Africa with single API integration.
E-Factor is a South African-based Fintech company that has created a digital factoring platform where companies can sell their receivable invoices through an auction to investors with the highest bid. The company attended Barclays Tech Lab Africa Accelerator, the first ever corporate accelerator program run on the African continent and managed by Cactus Advisors.