Social business firm Wyzetalk has announced it has raised a Series A funding round of R8 million from Clifftop Colony Capital Partners, the Cape Town based financial services firm focused on African venture capital and private equity investments.
This brings the total amount of capital raised for Wyzetalk by Clifftop Colony to over R20 million to date.
Gys Kappers, Co-Founder and CEO of Wyzetalk, says: “Working with Clifftop as our corporate finance partner has allowed us to credibly access a high-profile local and global investor base and raise significant amounts of capital for Wyzetalk as a South African start-up, whilst also protecting the interests of the founders and the seed investors.”
Wyzetalk, a secure social enterprise platform enables companies and communities to speed up the decision-making process, enable large-scale collaboration, improve all-round communication, encourage idea generation, and facilitate an open innovation environment to drive critical business success. Wyzetalk is available as a web service, desktop, mobile and tablet app.
In a statement, Oliver Drews, CEO of Clifftop Colony said: “Investors have been deeply impressed with the Wyzetalk team and how they have built the leading emerging market focused social business platform with a highly effective product offering for local businesses. The funding round was substantially over-subscribed and we are very pleased with the selection of investors. Like the seed round, we focused very much on investors who could contribute more than capital to take the business to the next level.”
Mbwana Alliy, Managing Partner of Savannah Fund, one of the new investors said: “Wyzetalk has made impressive inroads into the South African market and we now need to ensure that we bring our Pan-African network to the table to make Wyzetalk a business solution for leading companies across the continent.”
The company will add Hans Hawinkels , A non-Executive Director of Times Media Group and previously CEO of Multichoice Africa as a member to its Board with immediate effect.