Posts Tagged ‘wiGroup’

Investec Asset Management Buys Stake in wiGroup

August 12th, 2015 | Messages, News | 0 Comments

Investec Asset Management has acquired a significant shareholding in wiGroup, South Africa’s only interoperable point-of-sale mobile transacting network. The deal will enable Investec Asset Management to partner with wiGroup and Capital Eye Investments (“CEI”) to support wiGroup’s growth and development on a local and international level.

Founded in 2007, and backed by CEI, wiGroup’s proprietary mobile transacting network has grown to over 55,000 point-of-sale lanes, providing services to more than fifty mobile transacting issuers. The mobile transaction platform, wiCode platform, is utilised by multiple industries including five large retail chains, over ten hospitality chains, more than fifty FMCG brands and eight mobile issuers in South Africa alone; with a total in-store mobile transaction value of over R4 billion processed securely to date.  In addition, wiGroup develops innovative technology solutions that enable integrated mobile-based payments, loyalty, coupon, voucher, reward and gift programmes.

Anton Gaylard, Capital Eye Investments Executive: “CEI backed the founding management entrepreneurs from inception, and having reached a level of critical mass locally, we are excited about working with Investec Asset Management’s Private Equity team to expand the business across Africa and other relevant international markets.”

wiGroup’s technology is well-suited to emerging markets in Africa and beyond where mobile-based transacting is poised to leapfrog traditional card-based payment, reward and loyalty solutions. Recently wiGroup established a joint venture with Nigeria’s leading SWITCH and payment processor, expanding the wiGroup technology platform into West Africa.

Bevan Ducasse, wiGroup Founder & CEO: “Our partnership with Investec Asset Management marks an important milestone for wiGroup. The expansion capital will enable wiGroup’s international growth objectives, the enhancement of our current product portfolio and will facilitate R&D and the development of new products. We look forward to working closely with both Investec Asset Management and Capital Eye as we grow the business to the next level.”

The expansion capital is funded via Investec Asset Management’s African private equity capability. The Private Equity strategy focuses on growth capital and buyout investments in established mid-market and larger companies in Africa, with the objective of supporting the creation of local or regional champions in their respective industries.

William Alexander, Private Equity Investment Principal at Investec Asset Management: “Investec Asset Management is delighted to partner with wiGroup’s founder-management.  wiGroup has established itself as the leading mobile transaction technology company in Africa and we are looking forward to supporting the business as it enters its next phase of growth and development.”

Click here for wiGroup’s radio interview on ‘The Money Show’.

Click here to watch Bevan Ducasse on CNBC Africa.

wiGroup – Mobile Transacting Simplified

February 25th, 2014 | Messages | 0 Comments

wiGroup is a platform provider specialising in point-of-sale integrated mobile transacting, allowing consumers and businesses to transact and interact in a swift, secure and convenient manner, using their mobile devices. The wiPlatform is used by retailers, brands, agencies, banks, mobile communities and a host of other businesses looking to deliver value through mobile connectivity; including mobile coupons and vouchers, mobile money transfers, mobile rewards, and mobile payments.

Capital Eye Investments Limited (“CEI”), as a venture capital company focusing purely on technology and associated assets with a particular focus on emerging markets, invested behind wiGroup in 2008 when founder and CEO Bevan Ducasse approached CEI with an ambition to build a mobile wallet. The business soon pivoted, developing a mobile agnostic platform behind the likes of MTN’s Mobile Money and Shoprite’s EeziCoupons. In August 2013, wiGroup processed its billionth rand in transactions, and is currently rapidly approaching its second billionth.

Click here to watch wiGroup’s latest video demonstrating ‘Mobile Transacting Simplified’.

wiGroup – R1 billion and counting

August 3rd, 2013 | Messages | 0 Comments

With a presence at more than 30 000 till points across South Africa, wiGroup processed over a R1 billion in transactions during the first 6 months of 2013. Logging over 40 000 hours in IP development, the wiPlatform has developed into an open and interoperable system enabling mobile transacting at the point of sale, delivering value through mobile coupons and vouchers, mobile money transfers, mobile rewards, and mobile payments.

Capital Eye Investments Limited (“CEI”), as a venture capital company focusing purely on technology and associated assets with a particular focus on emerging markets, invested behind wiGroup in 2008 when founder and CEO Bevan Ducasse approached CEI with an ambition to build a mobile wallet. The business soon pivoted, developing a mobile agnostic platform behind the likes of MTN’s Mobile Money and Shoprite’s EeziCoupons.

Click here to view the associate press.

Capital Eye backs its wiGroup investment in jointly investing behind the start up business, Emerge Mobile

March 12th, 2012 | Messages | 0 Comments

Capital Eye Investments Limited together with it’s mobile platform aggregation and mobile applications business, wiGroup, have undertaken to invest behind a start-up business, Emerge Mobile which could ultimately see Capital Eye holding an equity position in Emerge Mobile of over 25%.

The combined portfolio holding, i.e. together with wiGroup’s equity participation could take the overall investment to 33.5%.

Emerge Mobile is a young, innovative, start-up technology business that’s looking to release a revolutionary turnkey product and service offering to the mobile financial services market in due course. More exciting news about this venture will be announced in due course once its product is officially launched to market.