Daniel Guasco, CEO / Founder, Click2Sure
A requirement to survive as a disruptor or challenger in the fintech space is capital. The right team with the right business idea can only succeed with a business model which shows rapid scale and sustainability and when trying to challenge large and established incumbents with deep pockets this is not easily possible without funding.
As both a partner and investor at Team Africa Ventures which, since 2010, has made a number of early-stage technology investments and currently CEO and Founder of one of those investments, Click2Sure, the last few years has seen the rapid growth of capital typically in the form of VC funding coming from global entities but also more established corporate venture funds into the local market. 2021 saw an all-time high of over $4 billion being invested into technology startups with the bulk being made in the fintech space.
As a South African based entity, the complexities have been substantial when trying to raise capital from international partners. While investment from local partners has also been possible this has historically been limited although that has changed as more investment has entered the market and the thesis has played out.
An established global VC has many options when looking to deploy cash in more established larger markets so historically convincing investors have been a real challenge specifically when they have not made prior investments and so the market is unknown. Click2Sure has raised a substantial amount of its capital from international investors to date. It has not always been easy to achieve but the benefit has been typically more competitive terms and a team with substantial global experience, knowledge and network.
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As the momentum has built aligned to the traction and growth the local market has seen in technology-enabled startups so has the capital and success stories. The momentum that has built over the last few years will only grow further as relative to more established markets and the size of the opportunity in Africa current levels of investment will only get stronger.
There is no doubt that 2022 will see further growth in the sector with more international funds entering the market and local startups being the beneficiary of this capital. In turn, so will there be many more success stories in the local market.
There has never been a better time to be building successful businesses in the technology space in Africa.