Overview
campaign deal type
Equity
available equity
21%
price per share
ZAR 1,000
3200
available shares
investment term
6 years
targeted return
3.83x
targeted rate of return
27.33%
Raised
2534000
Investors
24
Targeted Return
3.83x
Business valuation
ZAR 15,461,618
The Problem
The Investmint history starts with Gareth, the Company’s CEO. As a chartered accountant running an accounting practice, Gareth regularly had discussions with clients who were struggling to access financing through traditional channels. In particular, one client had received a purchase order from a well-known retail company but couldn’t raise the funds required to purchase the bottles for his beverage in order to fulfil the order. Gareth contacted a few friends and raised the capital needed by the client.
After repeating the process a few times, Gareth expanded the offering to other clients also needing financing to fulfil orders and immediately saw the positive impact access to funding had on clients’ businesses while at the same time generating decent returns for investors.
The Solution
In July 2019, the Investmint platform was officially launched to facilitate funding applications from more business owners and expand the investor pool, allowing more people to participate in helping SMEs grow while earning attractive returns on their capital.
BCom, B.Acc Honours CA Immediately after finishing his articles, Gareth started Cloudworx Accounting Solutions. While dealing with clients struggling to find financial support they need, he decided to start Investmint to help build the SME economy. Gareth is also employed as the Finance Director at Black Marlin Distribution, a company specializing in the cycling industry.
The Team
Raised
ZAR
2534000
Targeted Return
3.83x
Business valuation
ZAR 15,461,618