In this episode of the TechCentral Podcast, we go inside AlphaCode, the Sandton-based club for fintech entrepreneurs built and operated by Rand Merchant Investments (RMI) and headed by RMI senior investment executive Dominique Collett.
The hub, which has already signed up more than a thousand members in its first year of existence, has invested R9m in 11 black-owned businesses through a partnership with Bank of America Merrill Lynch and provided funding for Merchant Capital, a start-up provider of alternative sources of working capital for small and medium enterprises in South Africa. (See below for photos inside AlphaCode.)
RMI, which includes Discovery and Outsurance among its investments, hopes the club will help nurture significant fintech players that have the potential to disrupt South Africa’s financial services industry.
In the podcast, Collett explains to TechCentral editor Duncan McLeod how the club works, goes into detail about some of the investments it has made, and talks about some of the major developments expected in the fintech space in South Africa in 2017. It’s fascinating listening.
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Images inside the AlphaCode work space:
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