August 17

Fintech Company CapitalSage Technology Raises $4 Million To Accelerate the Company’s Growth

CapitalSage Technology Limited, an integrated fintech group in Nigeria, has successfully raised US$4 million (N2.2 billion) in a Series 1 Private Company Notes (PCN) issuance, under its N10 billion (US$24.30m) programme, to accelerate the company’s growth across different markets both in Nigeria and Africa.

The Series 1 issuance, with a 365-day tenor, was subscribed with firm commitments from Fund managers and other institutional investors, and United Capital Plc, Nigeria’s leading financial services group, acted as Sole Adviser and Arranger on the transaction.

The successful debt-financing round came on the heels of a positive investment appraisal of A3 (short-term) and BBB (long-term) with a stable outlook received from GCR Ratings, coupled with the strategic partnership and guidance of United Capital.

Photo courtesy of Simon Berry.

Source: Africa Inc. (link opens in a new window)

Finance, Technology
accelerators, digital finance, financial inclusion, fintech