LONDON, LUXEMBOURG, MUNICH Black Manta Capital Partners (“BMCP”) introduces into the market the world’s first fully-digital private bond as the primary placement agent for IDAP…
Published on: February 9, 2021
Globacap raises $9 million in Series A extension funding round
Globacap, the fintech that is transforming capital markets, has completed a series A extension round securing $9 million from investors. The round was led by the Johannesburg Stock Exchange (JSE), Africa’s largest stock exchange, with participation from Moore Strategic Ventures, the privately held investment company for Louis Bacon, Founder and CEO of Moore Capital Management.
Globacap, authorised and regulated by the FCA, uses cutting-edge technology to digitise private shares and debt instruments, providing more efficient administration, a more robust audit trail, greater security, and allowing for near real-time secondary transferability. Over $3 billion of private shares and debt instruments are digitally administered on its platform for 60 companies and over 8,000 shareholders and debt investors.
Globacap has also fully digitised and semi-automated the process of private placement, from offering documentation, to distribution, AML, tracking, order management, bookbuilding, and settlement.
This investment in Globacap’s full-service platform will assist with the roll-out of its first in class digital platform.
The JSE and Globacap have also entered into a commercial agreement to launch two private placement platforms in Africa later this year. The first is to digitise investment into infrastructure projects, a $100 billion market, and the second for investment into SMEs. Using Globacap technology, the JSE will advance and digitise capital raising in private funding markets on the continent, in turn helping to create sustainable infrastructure and business growth.
Myles Milston, CEO at Globacap, comments:
“The world is going digital. In the same way smartphones have transformed the way we live our lives, from navigating, to ordering food, our tech has brought private capital markets into the digital era. This is not only transformational, it’s also a trillion-dollar market opportunity. The involvement of this calibre of investors showcases the appetite for digitization, and the belief in our platform. With this investment, we are excited to scale our brand and show its ability to change the way the capital markets world works.”
Leila Fourie, CEO at JSE added
“We believe that this partnership will transform the African economic landscape by increasing levels of efficiency and allowing businesses access to capital for future growth. Using Globacap’s technology we will digitally transform capital raising for infrastructure and business sectors, as well as stimulate growth across Africa. We’re delighted to be part of Globacap’s growth.”
Globacap press team