SA fintech startup My-iMali launches $1.6m Uprise.Africa crowdfunding campaign
Summary
My-iMali has developed the BxChange E-Wallet App, an affordable, easy to use and convenient digital wallet that enables customers to make transfers to bank accounts, and top-up or purchase prepaid products and services. The startup has already acquired 2,100 app users, and 35 enterprise customers, and is looking to expand by raising ZAR25 million in return for a 20 per cent stake in the company through an equity crowdfunding campaign on Uprise.Africa, which facilitates the whole investment process and enables multiple investors to support South African startups. Uprise.Africa, which raised an equity funding round of its own last year, achieved a major milestone this year when regtech startup Intergreatmesecured ZAR32.436 million (US$2.19 million) from 406 investors. Some campaigns, however, such as that run by mobility startup LÜLA, have been less successful. P2P solar leasing startup Sun Exchange is currently crowdfunding via the platform.