Innovative equity crowdfunding platform GoGetta has listed its first two businesses outside of South Africa.
According to a statement, the company Scorefam is a sports-gaming business which makes it easy for betting fans to deposit and withdraw earnings via its crypto-enabled app.
The second company, Quiver is a crypto-based savings and loans provider which caters for Africans in the informal sector.
It should be noted that both businesses are based in Nigeria.
Sthembiso Zwane, co-founder of GoGetta says, “After successfully raising over R6 million for two businesses in just six weeks, we’re delighted to offer these innovative African businesses to global investors. This signifies an important step in our growing reputation as a trusted facilitator of funds for quality African businesses. All businesses must be scrutinised by an investment team prior to listing on the GoGetta platform.”
GoGetta allows investors to select vetted opportunities and invest quickly and securely from R1 000 ($55) to own shares in various African businesses across a number of sectors.
Simisoluwa Adeyemo, Scorefam founder and CEO, says the business was created to solve specific problems in sports gaming and betting. “Risk profiling is important to ensure that the selected bets correspond with the user’s appetite for risk. Users can play to earn yield on their capital. When they make successful predictions, they are paid out in a Scorefam token, removing dependence on local banks and country limitations for accessing their rewards. We are aiming to raise R2.2 million investment in exchange for shares in the business.”
According to GoGetta, after struggling to access loans using their digital assets portfolio as collateral, the co-founders of Quiver realised that the average Nigerian could not access credit facilities because they often lacked the resources that made them eligible.
“It’s impossible to get credit without statutory documentation and minimum savings deposits. We built Quiver to allow Africans to do more with less by building a non-custodial savings and loans platform,” says Omololu Bamisile, Quiver CEO.
Quiver is aiming to raise R4.4m with a minimum target at R2.2m.
Businesses open for investment on GoGetta
∎ UMOYA! operates in the telecommunications sector providing affordable data and improved internet connection to under-serviced communities in South Africa.
Investment term: five years. Investors can expect a targeted IRR of 21.3%.
∎ Investmint is an innovative loans platform for SMEs launched in 2019, which has already funded R30m in loans.
Investment term: six years. Investors can expect a targeted IRR of 27.3%.
∎ Buygaloo is an adtech business which provides a location-based advertising platform to brick and mortar stores.
Investment term: five years. Investors can expect a targeted IRR of 35.3%.
∎ Silverleaf, a venture capital cannabis fund with an attractive structure allows investors to get in on the growing and lucrative cannabis industry.
Investment term: five years. Investors can expect a targeted IRR of 15 to 20%.
∎ Scorefam, a sports-gaming crypto-enabled business which makes it easy for betting fans to deposit and withdraw earnings.
Investment term: six years. Investors can expect a targeted IRR of 33.2%.
∎ Quiver, a savings and loans provider aimed at the informal market in Africa.
Investment term: five years. Investors can expect a targeted IRR of 33.6%.
A FEW OTHER CROWDFUNDING PLATFORMS IN SA:
- Thundafund
- BackaBuddy
- Jumpstarter
HAVE YOUR SAY:
Would you use a crowdfunding platform to jumpstart your business?
— Business Report (@busrep) February 27, 2023
BUSINESS REPORT