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SA GovChat Secures Investment Facility from Capital Appreciation

TechInAfrica – South African startup based in Pretoria, GovChat, has announced that it has secured an investment facility from Capital Appreciation, a JSE-listed firm, up to R20 million. The investment was made through the firm’s enterprise development fund. The funding will be used to expand the platform scope as well as to move into new markets outside South Africa.

GovChat is a platform that enables citizens to connect and communicate with national, provincial, and local government representatives of South Africa through Chatbots, WhatsApp, and USSD.

It was founded in 2016 and launched two years later by Eldrid Jordaan. Currently, the platform has already had a half million South African subscribers. Its main clients are the Government Communication and Information System (GCIS), the Department of Cooperative Governance Traditional Affairs, and the Independent Electoral Commission (IEC).

SA GovChat Secures Investment Facility from Capital Appreciation
SA GovChat Secures Investment Facility from Capital Appreciation via govchat.org

Cited from Ventureburn.com, Lea-Anne Moses as GovChat’s Head of Media Relations explained that the startup is planning to expand its solution to other African countries such as Ghana, Nigeria, the Democratic Republic of Congo, the Gambia, Zimbabwe, and some of the Southeast Asian countries.

Furthermore, the startup plans to expand its platform and introduce “inclusive initiatives”. With the support from Capital Appreciation, it wants to level up its digital payment technology, including a 0% transaction fees for South African small businesses, among others.

Speaking about the investment in GovChat, Capital Appreciation’s Chairman Motty Sacks said that the firm is excited to have invested in the startup. Sacks added, “The team is ambitious, the objectives are bold and we think that the impact can be substantial. We look forward to being part of GovChat’s exciting journey.”

Source: ventureburn.com

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