Just over 5 years ago Capital Eye Investments (CEI) was established out of the former JSE listed UCS Group Limited, as an investment holding company with the stated mission of generating superior returns on technology and associated assets, with the clear objective of developing, expanding and realising returns in portfolio assets as and when they mature, achieving true value for the affected parties. It was in the ever evolving technology sector that the UCS Group had operated successfully over many years.

BCX acquired the Technology Services businesses from UCS in 2011, in a mutually beneficial transaction that was a prelude to the establishment of CEI which in 2013 divested from the expanding GAAP business that specialised in restaurant software systems. At the same time CEI invested in several start-ups and established dynamic technology businesses adding them to its expanding portfolio.

In keeping with its strategic intent, Capital Eye Investments is proud to announce the creation of Crossfin, made up of a logical grouping of its fintech assets that include: Alacrity, Innervation, Emerge Mobile (with iKhokha), the wiGroup and Blue Garnet. CEI welcomes the participation of the Multiply Group, as a third-party Investor, acquiring a 35% stake in Crossfin, the CEI fintech asset portfolio.

With its mission of providing “a unique investment platform for like-minded investors to leverage their collective resources for scale investments into Africa and beyond”, Multiply makes an ideal investment partner for CEI. With our mutual commitment to supporting teams with high skills and integrity we will continue to provide secure investment structures generating high returns for investors. With the backing of CEI and the investment by the Multiply Group, Crossfin is well positioned to invest actively in further acquisitions and to support organic growth and enhanced returns in the existing businesses. Crossfin will, moreover, continue to enjoy the benefits of the established CEI executive and business support structures.

With their experience and proven CEI track record, Dean Sparrow as the CEO of Crossfin and Anton Gaylard as its COO are confident that the new entity is perfectly positioned to become a market leader in the fintech space.

Crossfin will expand the Multiply Group vision of accelerating “growth and prosperity on the African continent” with its youthful population actively participating in the millennial generation’s propensity to disrupt established industries and transacting practices by embracing technology in an increasingly digital world. The impact is being felt rapidly in the retail and financial services industries where Crossfin entities currently process more than R55 billion in point of sale transactions and a further R6 billion in mobile transactions every year.

Both CEI and Multiply are enthusiastic in affirming their conviction that “Crossfin is an exciting prospect for any business looking to leverage or complement our existing Fintech ecosystem of partners, agents, merchants, retail till points and client base in Africa and beyond”. They are confident that the existing platform is poised for immediate growth.