Funding

South African Edtech Startup D6 Group Secures Undisclosed Amount Of Funding For Expansion.

Gauteng-based edtech startup d6 Group has secured an undisclosed amount in investment funding from Knife Capital, Hlayisani Growth Fund Stellenbosch and NuState Ventures.

Launched in 2010 with headquarters in both  Gauteng and Pretoria ,d6 Group provides an all-in-one cutting-edge platform for educational institutions to manage all of their operations and conduct comprehensive communication between  a school, parents, and students.

Payment facilitation options are included, as well as a fully integrated cloud-based school administration, curriculum, and finance system. Over 2800 schools are currently using the platform.

 The cloud-based management and communication platform is the most widely used in Africa, and the company intends to use the secured funding to expand its services and company internationally. The funding will also be utilized to develop new products.

“We are extremely excited about our new investors because of their proven track record and ability to support tech businesses to scale internationally. We have a strong market footprint and technology foundation and with this new strategic investment support, we are now able to pursue our local, as well as international growth aspirations.” Willem Kitshoff, CEO of the EdTech company d6 Group comments on the funding secured.

According to reports, Knife Capital, Hlayisani, and NuState will be the majority shareholders as a result of the investment.

“Alignment of shareholder interest behind a motivated entrepreneurial team is a critical strategic building block for creating value and Knife Capital is delighted to partner with these credible investors. We liked that d6 wasn’t dependent on the investment from a cash flow runway perspective, but the funds will enable them to scale more rapidly. This is a high-growth business with an amazing product, recurring revenue and a huge addressable market.” Keet van Zyl, the co-founder of Knife Capital comments on the investment made into the innovative edtech company.

Read Original Article here

Nichole Manhire

Is the productive executive for the media department at GetFundedAfrica

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