Globacap, which claims to be transforming capital markets, has secured an additional $9m for its Series A round.
The capital injection was led by the Johannesburg Stock Exchange (JSE), with commitments also coming from Moore Strategic Ventures.
These funds will help the FinTech to distribute its platform.
Alongside funding, Globacap has formed a commercial agreement with the JSE to launch two private placement platforms in Africa later this year. The first of these will digitise investment into infrastructure projects. Its second platform will digitise investment into SMEs.
By leveraging the technology, the JSE hopes to advance the digital capital raising within private funding markets and build sustainable infrastructure.
JSE CEO Leila Fourie said, â€œWe believe that this partnership will transform the African economic landscape by increasing levels of efficiency and allowing businesses access to capital for future growth. Using Globacapâ€™s technology we will digitally transform capital raising for infrastructure and business sectors, as well as stimulate growth across Africa.â€
Globacap, which is authorised and regulated by the FCA, leverages technology to digitise private hares and debt instruments. This offers more efficient administration, improved audit trails, greater security and near real-time secondary transferability.
Globacap CEO Myles Milston said, â€œThe world is going digital. In the same way smartphones have transformed the way we live our lives, from navigating, to ordering food, our tech has brought private capital markets into the digital era.
â€œThis is not only transformational, itâ€™s also a trillion-dollar market opportunity. The involvement of this calibre of investors showcases the appetite for digitization, and the belief in our platform. With this investment, we are excited to scale our brand and show its ability to change the way the capital markets world works.â€
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