Rancard secures further investment

Rancard secures further investment

West African mobile cloud solutions provider Rancard has secured second round investment lead by Peninsula Capital and including Intel Capital and Adlevo VAS Holdings.

Rancard currently works with more than 70 mobile operators including MTN, Airtel, Vodafone and Etisalat across 25 countries in three continents.

Founded by Ghanaians Kofi Dadzie and Ehizogie Binitie in 2011, the company has offices in Lagos, Accra and Mauritius.

The technology provides social recommendations for mobile content and is used by branding including Google, BBC, ESPN and iROKOtv.

“This investment will boost our efforts in growing a world class team, building critical partnerships and in deepening our technology base as we continue to deliver compelling technology for mobile network operators, content and service providers across Africa,” Dadzie, chief executive officer (CEO) of Rancard, said.

Peninsular Capital is a private investment management company based in California, United States, and founder Robert King said he had confidence in Rancard as a global software solutions provider.

Intel Capital was part of the first round of investment Rancard received in July 2012 and Marcin Hejka, managing director of Intel Capital Eastern Europe, Middle East, Africa and Russia, said: “Intel Capital continues to believe in the tremendous growth opportunity in the technology ecosystem across the continent. Companies like Rancard play a big role in the region’s economic growth, and it is our mission to foster technology innovation on the continent.”

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