South African regtech startup Intergreatme has ended its Uprise.Africa equity crowdfunding campaign after securing ZAR32.436 million (US$2.19 million) from 406 investors.
Intergreatme, which has developed a web and app platform that transforms onboarding for businesses and digitises personal information for over 25 million credit-active South Africans, launched its Uprise.Africa campaign on May 17, making 20 per cent of its shares available in a bid to raise ZAR24 million (US$1.67 million).
Within six days it had already raised ZAR28.5 million (US$1.98m) from 169 investors, with the startup saying in its campaign brief it was limiting the raise to ZAR32 million. With that amount now secured, in return for 25 per cent ownership of the company, Intergreatme has ceased fundraising.
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Intergreatme said it will use the funding to create a self-service platform for SMMEs, while adding additional features and functionality to its app. These include a digital affidavit, trusted connections, QR information sharing, digital ID and drivers’ licenses.