Retail Capital, a provider of cash advances and asset financing to small businesses in South Africa, recently signed on to a credit line of ZAR 110 million (USD 6.8 million) arranged from an unspecified international investor by Verdant Capital, a Mauritius-based corporate finance firm. Verdant Capital reports that, since the COVID-19 pandemic, about 90 percent of Retail Capital’s clients have been authorized to reopen. Meanwhile, “The business continues to have a strong balance sheet… [and] adequate capital to see it through the COVID-19 crisis.”
With 10 years of history, Retail Capital provides asset financing for terms of 1 to 5 years as well as merchant cash advances to firms with monthly turnover of at least ZAR 30,000 (USD 1,800). As of 2018, Retail Capital had total assets of ZAR 285 million (USD 24 million).
Verdant Capital, which has offices in the Democratic Republic of Congo, Ghana, Mauritius, Nigeria and South Africa, provides capital raising and financial advisory services as well as assisting in mergers and acquisitions in Africa.
Sources and Additional Resources
Direct contact with Verdant Capital
Retail Capital homepage
https://www.retailcapital.co.za
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