Verdant Capital arranges USD 3.4 million equity capital raise for Planet42

Planet42 has successfully raised USD 3.4 million in equity funding from leading South African investor, Naspers. Naspers invested USD 3.4 million through its Naspers Foundry business. This funding round is a precursor to a Series A capital raise in 2022. Planet42 provides alternative vehicle finance through its Rent-To-Buy model in South Africa. The company’s target clients are the underbanked South Africans who are otherwise unfairly ignored by the local banks. The company uses its proprietary scoring algorithms to vet potential clients. These algorithms cover a wider set of data points as compared to traditional scoring systems used by banks thus […]

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Verdant Capital Sole Advisor for the Sale of 100% of Nedan

Philafrica Foods (Pty) Ltd. (“Philafrica”), a subsidiary of AFGRI Group Holdings (“AFGRI”), has sold its soya oil crushing plant, which trades in the market under the names Nedan, Marathon, Soya Ya Ka, Promax (soya oil cake). Verdant Capital is pleased to have acted as financial advisor to Philafrica for this transaction. Philafrica, based in South Africa, is an investment company involved in food processing in South Africa, Mozambique, Ghana and the Ivory Coast. Its focus is on expanding food sourcing and production across the continent. AFGRI is owned by Helios Fairfax Partners, which is a leading pan-Africa-focused alternative investment manager, […]

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Verdant Capital Sole Advisor & Arranger for USD 20 M Debt Capital Raise for Bridge Taxi Finance

Verdant Capital has successfully raised USD 20 million in debt financing for Bridge Taxi Finance (“Bridge Taxi”) from a small group of leading international impact investors. The funding will be used to grow the institution’s lease portfolio. Bridge Taxi, based in South Africa, provides affordable credit facilities to South African drivers – each an entrepreneur running his own taxi business – in the minibus taxi industry. It has a vertically integrated business model that includes impact vehicle finance, day to day tracking, advice and management, and vehicle repairs and services. The company has financed over 3,200 entrepreneurs to date (1,100 […]