South African fintech e4 is being acquired by a consortium of private equity investors. The ZAR1bn ($52.5m) acquisition is led by independent private equity fund manager Infinite Partners. According to e4, the deal gives it the necessary capital to advance to the next stage of its expansion.
e4 provides custom, innovative solutions and services, including software development and business automation. With a focus on software as a service (SaaS), e4 says that it leverages its technology expertise to completely transform customer processes. Specifically, it positions itself as a pioneer of digitalisation in South Africa. For over 20 years, e4 has been building on its strong foundation as a leading digital transformation specialist. Digital enablement is a core element of its ethos
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e4: central figure in numerous transactional ecosystems
e4 has developed innovative solutions that address the needs of various sectors, with a notable presence within the proptech space. As a result, e4 has become a central figure in numerous transactional ecosystems. The broader e4 Group employs over 200 staff and in 2021, launched in the UK. Its UK focus is on building e4’s relationships with mortgage lenders, conveyancing firms and other partners.
The transaction includes 27four, a diversified financial services group that invests money innovatively and supports independent asset managers.
Infinite Partners is an African private equity fund manager, established in 2022 following its spin out from Ethos Private Equity. Founded on a bedrock of ethical sustainable investing for good, Infinite Partners are both value and values-driven partners. It seeks growth investments alongside visionary management teams.
Edward Pitsi, Infinite Partners CEO, said: “e4’s strongest growth potential lies in continuing to do what it does very well. That is, growing the penetration of its current products and following its well established ‘blueprint adoption’ in its customers.
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By GlobalDataUK: total addressable market 10x South Africa
“We are very excited by the growth opportunities for e4 to grow into other adjacent areas whilst retaining a strong market position in the current verticals it services. Finally, the business has recently expanded to the UK. The UK has a TAM in excess of 10x the SA market. We will be supporting management through this expansion as it can have a material impact on ultimate outcomes. Our experience in managing growth agendas, providing strategic input and growth capital will be fundamental in supporting delivery.
Naomi Nethengwe, Infinite Partners Principal added: “With its proptech offering, e4 operates within digital & tech, a sector that Infinite Partners has identified as having structural growth potential. Proptech is a niche segment of the economy. It has taken a significant amount of time and investment to build this world-class technology stack. We foresee a substantial runway for international expansion due to the exportability and global relevance of e4’s technology stack.”
