BetTech Secures Multi-Million Rand Investment From 4Di Capital

South Africa-based BetTech Gaming (Pty) Ltd was founded in 2009 after years of research and conceptualization by the founders and has since secured a multi million rand investment from 4Di Capital. “We are delighted to have 4Di Capital on board as our long term partner in this project – not only for their ability to provide a capital investment for our software development plans and operational setup but also because they are able to leverage off of their global network to assist in introducing BetTech Gaming and its products to the broader market. We feel that this is where the real long-term value will be added,” says BetTech director Mark Bosman.

BetTech Gaming (Pty) Ltd is focused on developing cutting edge gaming software, with the first product being its sports book package. BetTech is entering the South African market through licensing its sports book software to power upstart brand BET.CO.ZA’s web and mobile interfaces. BET.CO.ZA has the vision to become the premier online and mobile sports betting brand within South Africa and BetTech’s Sport Book software functionality advantages will enable this to happen.

The BetTech Sports Book package will be a fully integrated and certified software platform that will be developed using cutting edge, robust and scalable technology. The system will be a full packaged solution, with all functions managed through one interface, from risk management and reporting to event management and marketing including a unique system focused on affiliate and white label functionality. There will be no need for plug-ins of any kind down the line.

“In my opinion, most of the gaming related software platforms available in South Africa are faced with legacy type issues. They are outdated and are having to regularly redevelop and re-engineer to ensure that they keep abreast of market demand,” says BetTech director Jesse Hemson-Struthers. BetTech is confident that it will be able to work with its development partners in producing cost effective and future-proof products, such as its sports book package, which will fill a definitive gap in the market through being built for today’s punters – with the focus on having flexible and modular betting channels including web, mobile and call centre.

The vision is that once BetTech’s Sports Book software infrastructure is in place, BetTech will leverage off of this South African setup and expand into other rapidly developing sports betting markets such as India, South America and Asia, turning it into a globally relevant, South African company.

http://www.bettech.com/

Aurik secures access to R100m in funding for early stage investments

Established early-stage growth companies are due to receive a funding boost following news that Aurik Investment Holdings (Pty) Ltd has secured access to a R100 million funding pool.

Aimed at early-stage businesses and focused but not limited to the energy, clean technology, telecommunications, healthcare, manufacturing and agriculture sectors. Funding may be provided in a mix of debt and equity and is available from a minimum of R5 million to a maximum of R10 million per investment.

“This fund is dedicated to early-stage businesses and includes both funding and direct commercial support as part of the deal. South Africa’s bright future depends on reversing the unfortunate situation where we see too few people becoming entrepreneurs and too many entrepreneurs failing,” said Pavlo Phitidis, CEO of Aurik Investment Holdings.

Early-stage businesses face the twin challenges of securing adequate funding and quality commercial support that Aurik hopes to help them overcome. According to Phitidis, “Typically, early-stage businesses are too young to qualify for venture capital and cannot afford consulting-based commercial support. This “skill and equity gap” has proven to be the death knell of many an entrepreneurial dream.

Phitidis added that combining angel funding and business acceleration addresses the major risks typically faced by early stage businesses and boosts the likelihood of entrepreneurial success.

As a Business Accelerator, Aurik partners with entrepreneurs to accelerate the growth of early-stage businesses by providing a combined package of back-office support, business acceleration and angel funding, all before the venture capital stage. Business Acceleration is a new concept in South Africa and is better known in the USA and Europe. Since inception, Aurik has worked with 22 early-stage businesses and enjoyed successful acceleration outcomes.

The funding pool’s target is entrepreneurs running businesses not younger than two years and the entrepreneurs must have at least three years additional experience within their industries. Certain minimum turnover requirements apply while funding is conditional upon the conclusion of a back office support agreement, amongst other conditions.

On the structure of the funding pool, Phitidis explained that the fund is a draw down fund meaning the money is drawn down upon investment committee approval after the conclusion of a successful due diligence process.

Established in 2003, Aurik Investment Holdings is a Business Accelerator that interacts with influential private and public policy makers in order to create a socioeconomic environment conducive to accelerating the growth of early-stage businesses. Aurik partners with entrepreneurs of early-stage businesses to reduce risk and increase focus and direction to develop the business into an asset of value. By providing hands-on business support, back-office support and angel funding all before the venture capital stage, Aurik rapidly develops early-stage entrepreneurs into goal-directed business leaders able to successfully grow and manage their own businesses.

More details about the acceleration application process is available at www.aurik.co.za