African businesses can raise up to R10m on this crowd funding platform – Here’s who qualifies

  • African businesses can raise up to R10 million in capital on crowd funding platform GoGetta in exchange for shares.
  • Qualifying businesses are those that are African and operate in sectors within fintech, agriculture, consumer, energy, enterprise, 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 that seek to grow but are struggling to get funding can secure investment between R1.5 million and R10 million on crowd funding platform GoGetta, in exchange for stakes in the business.

The platform, powered by Grovest, an administrator in the small cap investment space, allows local and international venture capital investors to invest from as little as R1,000 into emerging African businesses.

The platform seeks to solve two investment problems. The one, is setting up a way for up & coming businesses to access capital. The other, is an easy but secure way for investors to put money into these types of ventures.

“Quality African businesses are struggling to raise capital using traditional financiers such as banks. Crowdfunding is a trillion-dollar global industry and it’s time for Africa to weigh in. GoGetta is a solution to these funding issues and unlocks the potential of Africa’s entrepreneurs,” said co-founder of GoGetta Sthembiso Zwane.

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

GoGetta is looking for businesses within various sectors to list on the platform. Listed businesses have the opportunity to raise investment between R1.5 million 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 top-notch compliance and governance capability. Africa’s go getters will also benefit from guidance in formalizing their businesses with a smarter way to access capital to fund growth while retaining control,” said GoGetta co-founder and CEO Jeff Miller.

Here’s who qualifies

Qualifying businesses include those within the following sectors: fintech, agriculture, consumer, energy, enterprise, healthcare, retail and more.

  • To qualify for the platform, businesses need to submit audited financial statements, year to date management accounts, three-year financial forecasts and a detailed business plan on the GoGetta website.
  • Businesses interested in applying must satisfy a due diligence process carried out by GoGetta’s experienced investment committee before the conclusion of a services and fundraising agreement.
  • Only African businesses can list on the platform, but investors can be located anywhere in the world.
  • The listing fee is R120,000, but as a launch special, GoGetta is waiving listing fees for businesses who list before 16 September.
  • Other than transaction fees, investors pay no fees. The minimum investment is R1000 and investors receive quarterly reports to track the performance of their investments.
  • GoGetta provides comprehensive information to assist investment decisions. These include financial information, a company pitch deck, and more.

“We have already signed up qualifying businesses in South Africa and we are seeing significant interest from businesses on the African continent which are ready for investment,” said GoGetta co-founder Leat Sacharowitz.

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