RainFin acquires stake in 4AX

4AX and RainFin have concluded a deal that will see RainFin hold a strategic shareholding in 4AX. 

4 Africa Exchange (4AX) has concluded a transaction with RainFin whereby RainFin will sell its corporate debt marketplace to 4AX in exchange for a strategic shareholding in the exchange.

The addition of the RainFin credit marketplace technology and value proposition to the 4AX listed equities and debt platform allows 4AX to further expand its market-disrupting debt offerings. 4AX will now be able to offer all entities – from mid-sized companies to global conglomerates, to government institutions and state-owned enterprises (SOEs) – the ability to utilise the 4AX online debt book building platform, thorugh which they can source debt directly from a combination of retail and institutional investors in one integrated offering.

Fay Mukaddam, 4AX CEO, says:

“It is a long-standing fact that the debt market is inadequately serviced, a problem that it is not isolated to South Africa. The conclusion of this transaction will allow 4AX to build on the concept of crowdfunding, and a credit marketplace platform pioneered by RainFin, and significantly enhance that by bringing the offerings into a regulated world through alignment of the debt instruments issued by the RainFin platform and our listed regulated exchange.”

4AX is one of only two exchanges in South Africa with a fully-fledged licence to trade across equities and debt.