This is Cactus Capital's third investment of 2016, following Uganda-based mobile payment aggregator Intel World International.
Announcing the investment, Cactus Advisors’ founder and CEO, Zach George said the company was excited to be investing in pioneering fintech companies that had graduated from leading accelerator programs worldwide.
Flutterwave is a San Francisco-based startup with operations in Nigeria and Kenya. They provide an end-to-end payments solution, enabling payment service providers, global merchants, licensed money transfer operators and pan-African banks to process payments to and from Africa with one API integration. Rather than implementing separate integrations for card schemes, mobile money networks, e-wallet and bank account payments across Africa, Flutterwave’s clients can leverage one API integration to ensure end users can pay and get paid anywhere across Africa.
e-factor (formerly known as InvoiceXchange) is a South African fintech startup whose digital factoring platform enables companies to sell their receivable invoices through an auction. A company can sell its invoices, that is promises of future payment for goods or services delivered, whenever the need for working capital arises.
“As Cactus Advisors, simply investing into high growth, high impact tech-enabled ventures on the continent is not good enough, unless we also have the right enabling environment for tech startups to access markets, channel partners and customers", Zach George said while making the announcement.
"Corporate Africa with its powerful consortium of financial services firms, retailers, telecommunication firms, insurance companies and media houses – all of whom are yet to seriously tap into the innovation pipeline that tech startups offer – provides the ideal platform for commercializing proof-of-concept agreements with startups that serves as a perfect risk mitigation shield to investors looking for returns in the African venture capital sector,” George added.
Cactus Capital's focus is on investing in disruptive early-stage tech ventures. Through programs like Barclays Tech Lab Africa and Startupbootcamp, Cactus Advisors equips entrepreneurs with the business & financial tools needed to transform concepts and ideas into feasible, sustainable and