Marketing & Media trends
Trailblazing equity crowdfunding in Africa
The sum was raised from both individual investors and venture capital investors.
Venture capital group, WDB Growth Fund was the headline fundraiser for both firms.
"The team [at GoGetta] has given us great advice and leveraged its extensive network," said Warwick Blamey, Shuthuka's chief executive officer.
The clinched deals bear testimony to how GoGetta is trailblazing crowdfunding in Africa by bringing a much-needed and long-awaited platform to the continent.
"Crowdfunding is a billion-dollar global industry, and we think it’s high time Africa became a real part of this phenomenon," GoGetta co-founder, Sthembiso Zwan said.
"GoGetta is a platform that enriches the lives of many and creates an investor ecosystem that enables the middle class to invest alongside the sophisticated investors in Africa," he [[https://www.thegrindfoundation.co.za/media/profiling-sthembiso-zwane added].
"Up until now, Africa has not been able to take advantage of this new capital raising phenomenon that's taking on the world. That's where GoGetta comes in," said Jeff Miller, GoGetta's chief executive officer and co-founder.
Backed by venture capital company Grovest - GoGetta offers retail and institutional investors access to qualifying entrepreneurs.
Just R1,000 gets investors a share in a growing African business, and can kickstart their investment portfolio in African venture capital opportunities.
Businesses listed on GoGetta undergo a due diligence process and are vetted by experienced start-up and financing professionals.
"In fact, of the 256 businesses reviewed for a listing since January 2022, just four were approved for listing on the platform – which is a good indication of their quality,” Zwane said.
"The investment space is no longer for a select few, the platform unlocks private equity opportunities and delivers it to the people," said Rian Bothma, GoGetta's chief operating officer.
In the near future, GoGetta might very well be remembered as bringing to market the biggest crowdfunding platform in Africa, Zwane added.
"I would like to be remembered as the first and youngest Black man to ever do it."