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Finance

Blue Garnet Ventures acquires 10% stake in Atura

Monday, 17 September 2018 18:42

(Ecofin Agency) - Blue Garnet Ventures, an investment company that invests in African companies specialized in financial technologies acquired 10% stake in Atura, a subsidiary of the South African firm New Media Labs Ltd.

Paul Cartmel, Atura’s CEO, did not reveal the amount of this investment in order not to “create confusion with some potential investors offering better terms”.

Atura which develops chatbots will use these funds to design new query processing softwares for its clients.

Thanks to these funds, Atura will be able to develop new technology solutions to facilitate payment transactions” explained, one of the managers of  Crossfin, the investment fund which partnered with Investec and some other investors in 2017 to create Blue Garnet Ventures.

In the past, Atura developed chatbots for financial institutions such as Nedgroup Investments, Nedbank Insurance, and Direct Axis.

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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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