PriceCheck’s holding company to invest R158 million in African online startups
Cape Town-based consumer-focused internet platform, Silvertree Internet Holdings (SIH), has announced it will be investing R158 million this year to work with African online startups.
The company, which owns platforms such as PriceCheck and Click n Compare, embarked on the investment plan through its investment arm, Silvertree Capital, after seeing revenue growth of 330% last year. In 2015, they invested R75 million in company acquisitions and business-building.
SIH’s focus is on scaling tech and commerce companies across small, fast-growing niches and is therefore looking for startups willing to join its fast-expanding owner/operator portfolio.
“Through our operations across the continent, we are seeing first-hand that the African consumer market creates ‘leapfrog’ tech opportunities that our portfolio companies, with their expertise and deep understanding of their markets, are poised to capitalise on and grow. Silvertree-owned companies are without a doubt best-placed to service and grow the millions of African consumers who are migrating to online platforms, looking to source the most competitive prices for goods and services.” Paul Cook, SIH Founder and MD said in a statement.
The company will begin targeting South African businesses and eventually go beyond our borders into the rest of the continent, specifically Nigeria and Kenya.
“We are not an incubator, we are not a VC – we are in the business of building businesses, through accelerated, highly targeted investment and growth strategies, with proven businesses. We are entrepreneurs who invest in like-minded entrepreneurs. Our search for young, dynamic, hungry talent who want to scale faster and outpace their competitors, will be a key focus for us in 2016”, Cook concluded.[Image – iTunes]