African companies can raise up to R10m on this crowdfunding platform – Here’s who qualifies

  • African companies can raise up to R10 million in capital on crowdfunding platform GoGetta in exchange for shares.
  • Eligible companies are those that are African and operate in fintech, agriculture, consumer, energy, corporate, healthcare, retail and more.
  • Interested investors can be based anywhere in the world and will need to invest a minimum of R1,000 or more.
  • For more stories go to www.BusinessInsider.co.za.

African businesses looking to grow but struggling to secure funding can secure investments of between R1.5m and R10m on the GoGetta crowdfunding platform, in exchange for stakes in the business.

The platform, powered by Grovest, a small cap investment administrator, allows local and international venture capitalists to invest from R1,000 in emerging African companies.

The platform seeks to solve two investment problems. The first is to provide a means for emerging companies to access capital. The other is a simple but safe way for investors to invest in these types of businesses.

“Quality African businesses find it difficult to raise capital using traditional financiers such as banks. Crowdfunding is a billion dollar global industry and it is time for Africa to step up. GoGetta is a solution to these funding challenges and unlocks the potential of African entrepreneurs,” said GoGetta co-founder Sthembiso Zwane.

“Africa is an exciting growth story for investors and our platform showcases some of the best investment opportunities across the continent,” adds Zwane.

GoGetta is looking for companies from various industries to list on the platform. Listed companies have the option of raising investments of between R1.5 and R10 million in exchange for stakes in the company.

“GoGetta is regulated by the Financial Sector Conduct Authority (FSCA), giving investors confidence in our excellent compliance and governance capability. African entrepreneurs will also benefit from guidance in formalizing their businesses with a smarter way to access capital to fund growth while maintaining control,” said GoGetta co-founder and CEO Jeff Miller.

Here’s who qualifies

Eligible companies include those in the following sectors: fintech, agriculture, consumer, energy, enterprise, healthcare, retail and more.

  • To qualify for the platform, companies must submit audited financial statements, year-to-date annual management accounts, three-year financial forecasts and a detailed business plan on the GoGetta website.
  • Companies interested in applying must pass a due diligence process carried out by GoGetta’s experienced investment committee prior to entering into a fundraising and services agreement.
  • Only African companies can register on the platform, but investors can be located anywhere in the world.
  • The registration fee is R120,000, but as a special launch, GoGetta is waiving the registration fee for businesses that register before September 16.
  • Other than transaction fees, investors do not pay any fees. The minimum investment is R1,000 and investors receive quarterly reports to track the performance of their investments.
  • GoGetta provides comprehensive information to facilitate investment decisions. These include financial information, a company pitch deck, and more.

“We have already signed up eligible companies in South Africa and we are seeing significant interest from companies on the African continent that are ready to invest,” said GoGetta co-founder Leat Sacharowitz.

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