The stock exchange hopes to change and simplify the exchange process through its recent funding round.
The Cape Town Stock Exchange (CTSE) has announced the closing of its R85 million funding round.
CFO Mpho Thomas said:
“This capital raise will empower CTSE to continue delivering on its mission to digitise, demonetise and democratise financial markets through providing a truly digital marketplace – one that is safe, secure, uncomplicated, transparent, well-governed, and that still offers easier access to liquidity at attractive rates.”
The oversubscribed funding round was led by a new investor to the group, Imvelo Ventures, with participation from existing investors Lebashe Investment Group, Pallidus Alternative Investments, Shaolin Investments and Gary Stroebel.
Mpho explained that the CTSE team is thankful for the support shown by the new shareholder, as well as the shareholders who followed on their rights.
“CTSE’s technology and financing innovation is changing the market’s capital and funding raise experience. CTSE is transforming what has historically been a long and complicated process into one that is more transparent, safe, and simple. I am proud of what the CTSE team has achieved by innovating daily to reduce cost, risk, time, and complexity in the capital raise process," said CTSE CEO Eugene Booysen.
Imvelo Ventures director Mark Fitzjohn said the firm is always looking to fast-track the growth ambitions of South African entrepreneurs. “We are excited to partner with such a strong team. They are leading experts in the next wave of exchange and investment banking technologies such as corporate finance, capital raise, funding, securities trading, custodianship, corporate governance, and shareholder management. Their cloud-based technology and end-to-end exchange architecture, combined with a marketplace of supporting partners, will allow them to rapidly and cost-effectively bring innovative, data-driven solutions to the market. This will enable us to push the boundaries of capital and funding raise using data and AI with new age exchange infrastructure."
