WiGroup pivoted from a mobile wallet to a B2B facilitator that connects mobile transacting apps (like SnapScan and Zapper) with retailers' point-of-sale systems. The company says it is used by 55,000 PoS lanes and serves more than 60 clients, including Woolworths, Pick n Pay, Shoprite and Vodacom, and employs around 90 people. A ticker on its website showed it had processed about R4.2-billion, and the CEO noted the company processed roughly R4-billion in the last three years, much of it in digital coupons, rewards and gifting. Early backer Capital Eye supported the business in its earlier stages. With Investec Asset Management taking a significant stake, WiGroup plans to scale its proven model into other African markets, targeting Nigeria, Namibia and Kenya, and already has a partnership with Nigeria's Interswitch. Management expects the Investec backing and due diligence to bolster credibility when approaching future clients and partners.

Total raised

$29M

Funding rounds

1

Latest round

Equity

Latest activity

Sep 2015