Uprise Dot Africa, South Africa, Nexus Ventures discussed on African Tech Roundup
All right. So guys let speed through to South Africa now with equity crowdfunding startup uprise dot Africa has secured funding from the Silicon Valley firm, nexus ventures. They haven't disclosed the amount which we hate usually don't even speak of matters that aren't disclosed in that in that area. But the reason I'm you know, I'm I'm bringing this up. And I know you you're plugged into some of the folks behind the steel or at least involved in it. So you might have some insight Rachelle, but the reason I'm bringing it up his crowd funding as as a trend clearly finding some traction on the continent. I have to admit I was one of the, you know, the the less than optimistic or mostly skeptical types when it came to this to this notion will be positioned is that a good look for a firm to sign up for crowd funded. You know finance? You know, what does it say about the phone? Founding team in the inability tiller sort of bootstrap to sort of sustainable level. But it seems to be an idea that's gaining traction min I think visa and the team have done mazing job. I think I'm with you on on the crowdfunding, I've sort of pivoted. Let's it offers additional avenues to raise capital for startups. Maybe less expensive more democratize version of that. And everything that I've seen to date has been one hundred thousand rand two hundred thousand five hundred thousand rent so nothing really meaningful. But from this this press release they've raised three point nine million ran full full brewery and the funding evaluation of sixty million around. That's really exciting. Thank listen. This is how you do crowdfunding properly. I think full really. Yeah. And real startup sized businesses that need the funding for other than these small piecemeal well with you. I mean, this is certainly in your space when you think of the brewery, that's kind of like a business that would take all the boxes for you. If himse g. You know, the size and scale of the things I know you interested in DC a platform like apprised on Africa as being potential because type line. I think that the. Previously looking at other crowdfunding platforms where you're raising one hundred thousand rand with the company going to grow to next even if they want a million ran it's still too small for most players, but if you're looking at companies raising three four million rand at a time when they grow to the next round defending that's going to be at a eight that maybe they need eight million. Would if it is then it becomes more interesting to more players. Yeah. Well, staying with important investment news, the education fintech play prodigy UK company, and the reason they've made it into on us. You know, African usually is because of course, they ran merchant investment holdings corporate investment on alpha code has invested in that particular company now really interesting play here. They've landed a billion dollars worth of financing in twelve months of get this. It's not private equity is debt. Right..