New Investment: Credit Circuit
What they do:
Credit Circuit offers a solution for working capital financing that is not recorded on a company’s balance sheet when cash is borrowed, and which is secured by accounts receivables. As this working capital financing solution is off-balance sheet, more businesses would have the ability to access financing in this way without adding further leverage and risk to their company.
Why we invested:
Credit Circuit is a business that is solving a significant problem in the working capital financing industry in South Africa. They have strong insurance and financing partners that are extremely excited about the product they have created.
The business is well aligned with our thesis of investing in tech enabled, innovative businesses, as the product they have developed is the first of its kind in South Africa. It is also B2B, and the company is run by an experienced technical team.
When we Invested:
The Investment in Credit Circuit was completed in Q4/2023
Founding Team:
Roan Stoop is the Co-Founder and CEO of Credit Circuit. He has 19 years’ experience in the insurance and risk industry as an actuary and quantitative risk analyst. Roan has a degree in Actuarial Science from the University of Johannesburg and has worked at Discovery, Absa Group and Eikos Risk Capital.
Morné Stoop is the Co-Founder and CTO of Credit Circuit. He has 8 years’ experience as systems analyst. Morné has a degree in computer science from the University of South Africa and has worked for Old mutual, Hollard and Woolworths.
Active in:
South Africa
