Fintech Group, CapitalSage has raised $4m to intensify financial inclusion across Africa. The company is reported to have raised the fund in a series 1 private Company notes (PCN).
WHAT SOLUTION WILL THE FUND PROFFER?
According to the startup, the fund will be used to accelerate its expansion across Nigeria and Africa at large.
As a licensed Fintech focused on bringing quality investments, savings, CapitalSage has provided Financial inclusion, entrepreneurship, wealth creation powered by technology for 6years . CapitalSage is your ultimate gateway to financial prosperity.
WHAT THEY HAD TO SAY
The Series 1 issuance, with a 365-day tenor, was subscribed with firm commitments from fund managers and other institutional investors, and United Capital Plc.
According to John Alamu, CapitalSage group managing director:
Our expansion is mostly driven by our agenda to provide a sustainable and inclusive digital financial infrastructure that continually empowers individuals and businesses and facilitates wealth creation.
With this funding, we are poised to further redefine the finance landscape and scale up financial inclusion across Africa.
Babatunde Ajayi, head of capital markets and advisory at United Capital buttressed:
CapitalSage Technology is a FinTech which offers a wide range of financial and technological solutions service range and has shown a huge growth potential.
The Company was able to attain an investment-grade rating from GCR, enabling this first entry into the Capital Markets. The transaction affirms CapitalSage’s strong management execution capacity and corporate governance position.
In addition, it has paved the way for other FinTechs to approach the Nigerian Capital Markets, especially the deep pool of Private Markets.
CapitalSage is the first fintech company to be noted on a private markets platform and to raise the highest debt amount in the Nigerian capital markets.