Intel Capital invests in African mobile firm

VALUE ADDED SERVICES

|
Image: By BiztechAfrica
Intel Capital invests in African mobile firm

Adlevo Capital Managers, a private equity fund manager focused on investments into technology-enabled businesses in sub-Saharan Africa, and Intel Capital, Intel’s global investment and mergers and acquisition organisation, today announced that they have completed an expansion investment into Rancard Solutions Limited (“Rancard”), a leading provider of cloud based software for mobile content discovery and delivery, focused on Africa.

Commenting on the investment, Kofi Dadzie, CEO of Rancard, said: “Today’s investment will play a vital role in enabling us to expand our footprint across Africa on both a reputational and operational level. We’re delighted that both Adlevo Capital and Intel Capital have agreed to come on board at a time of such opportunity and are excited about working with such experienced and globally recognized partners.”

Since launching in 2001, Rancard has established itself as a trusted provider of cloud-based mobile software and services which Africa’s mobile operators are increasingly turning to. As voice-based average revenue per user declines, mobile operators are increasingly using Rancard’s content discovery platform to profitably increase data revenues by delivering targeted content to their subscribers.

The company has developed a cloud-based social recommendations engine called ‘Rendezvous’, which maps connections among mobile users and then uses this mapping of shared interests as a basis for recommending content to consumers.

Yemi Lalude, Managing Partner of Adlevo Capital said: “Rancard is a perfect example of African entrepreneurs bringing world-class technology solutions to market. The company is uniquely positioned to bridge the gap between content owners and mobile operators and is poised to benefit from the growth in mobile data services. Our lead investment in Rancard will leverage Adlevo Capital’s industryexpertise gained from backing successful mobile value-added service companies in other geographies.”

Arvind Sodhani, President of Intel Capital and Intel Executive Vice President, noted: “Africa is a market with attractive macro-economic trends which we believe will unearth great business opportunities for us. With technological developments playing a key role in the region’s economic growth, we are seeking out Africa’s leading technology companies and great entrepreneurs as part of our mission to foster technology innovation globally.”

Christian Morales, General Manager, Europe, Middle East, Africa of Intel Corporation said: “As a business Rancard provides a wide range of services that are well placed to meet consumers’ rapidly shifting demands, particularly as the market for cloud based mobile content grows. It’s a company that has a promising future and one we feel could benefit not just from access to our capital, but also from our global network and technological expertise.”

The deal marks Intel Capital’s first investment in West Africa. Intel Capital is represented in the region by Sam Mensah, who is Investment Director for sub-Saharan Africa. This latest investment builds upon Intel Capital’s long track record of supporting the growth of companies which deliver innovative technology solutions. 



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE VALUE ADDED SERVICES NEWS

Safaricom launches M-PESA mobile financial journal

Safaricom has announced the launch of M-Ledger, an Android based application that provides subscribers on the company’s network with a simple and easy to use financial journal to track and monitor their M-PESA transactions.  Read More

Airtel, Access Bank strike Access Money deal

Access Bank Plc has collaborated one of Nigeria’s leading telcos, Airtel to develop and launch a new mobile money service. Read More

Microsoft, Opera Software to extend Opera Mobile Store to more Nokia phones

Opera Mobile Store will replace Nokia Store as the default app store for Nokia feature phones, Symbian and Nokia X smartphones, following an agreement between Opera Software and Microsoft. Read More

Mobile transaction users to hit 2bn by 2017

A new report from Juniper Research has found that just over 2 billion mobile phone or tablet users will make some form of mobile commerce transaction by the end of 2017, up from 1.6 billion this year. Read More

Zero-rating key to customer acquisition - Airtel Africa

Making OTT services such as Facebook and WhatsApp available for free on mobile networks - or so-called “zero-rating” - is a key part of customer acquisition, according to Willie Ellis, head of products and innovation at Airtel Africa. Read More

Airtel to offer insurance cover for iPhone 6 and iPhone 6 Plus

Airtel has announced that it will offer a 2-year insurance cover to its customers who purchase iPhone 6 and iPhone 6 Plus in any of its designated outlets in Kenya.   Read More

EcoCash-Western Union link up

The Western Union Company, a leader in global payment services, and Zimbabwe’s leading mobile money service provider, Econet Wireless, have teamed up to offer consumers fast and reliable international money transfers. Read More

Mobile money services must innovate to be sustainable - Tigo

Mobile money services must continually be innovating if they are to make their business sustainable in the long-run, according to Diego Gutierrez, general manager of Tigo Tanzania. Read More

Mobile money operators must take holistic approach – panel

Companies launching mobile money services were urged by panelists at AfricaCom in Cape Town to approach the market strategically and holistically if they are to be sustainable.   Read More

Ericsson supports Tigo Mobile Wallet in Senegal

Ericsson has announced that Tigo Senegal has launched Tigo Cash service based on the Ericsson Wallet Platform Solution.  Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionSage HR AfricaMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

GSMA: half a billion mobile subscribers in SSA by 2020GSMA: half a billion mobile subscribers in SSA by 2020

The number of unique mobile subscribers in Sub-Saharan Africa will pass the half billion mark in 2020, says a new GSMA report.

IN DEPTH

Africa lags on digital migration Africa lags on digital migration

Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.  

COMPANY NEWS

VMware Study: Businesses can Take Three Weeks to get Employees Mobile-Ready

EMEA businesses say concerns over trust, ownership and delivery capability may hold back taking advantage of the mobile cloud-era.