South African financial services firm Clifftop Colony Capital Partners has raised ZAR8 million (US$748,000) in series A funding for the social enterprise platform Wyzetalk.
The recent funding brings the total funding for Wyzetalk facilitated by Clifftop Colony to ZAR20 million (US$1.9 million).
“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,” said Gys Kappers, co-founder and chief executive officer (CEO) of Wyzetalk.
Clifftop Colony CEO Oliver Drews said investors had been impressed with Wyzetalk and its product.
“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,” he said.
HumanIPO reported last week the Nairobi-based Savannah Fund announced investment in the company.
“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,” said Mbwana Alliy, managing partner at the fund.
Image courtesy of Shutterstock