South Africa’s Alto Africa Realizes 85% Revenue Growth

In 20111, Trent and Oliver Potgieter formed the Alto Africa. Initially, the two founders were operating an IT business in London for over twelve years. Alto Africa startup is a financial sector based running 24-hours per week. In 2015, Michael Jordaan’s Montegray Capital added undisclosed capital into the business. Apart from Michael Jordaan, the company has other minor shareholders. Besides, it has eleven employees with four of its staffs located in Johannesburg.

Michael Jordaan’s Montegray Capital investment supported the growth of Alto Africa tech startup. The startup also recorded growth in revenue of 85% and 50% in 2017 and 2016 respectively. Moreover, it has developed an IT cloud solution named Cloudbox for SMEs. The device incorporates computer backups, emails, communication and file sharing into one package.

According to Trent the company charges a flat monthly fee for all items. He added that more than 170 SMEs have been covered so far. Majority of these SMEs have between 5 to 50 users. Furthermore, the company has also sold IT solution to many clients. Some of the largest clients include Citadel Wealth Management. Moreover, he noted that the company is not looking for more funding now. It has also not yet focused on rolling out the business in other African countries.