On behalf of Kalon Venture Partners, we are pleased to announce our recent investment in leading payment service provider, i-Pay. The investment was exclusively announced to our shareholders at our Annual General Meeting held on Wednesday,15th November. This deal is our third investment in four months and indicative of the strong deal flow we are seeing both locally and globally. This investment follows our recent investments in SnapnSave and The SunExchange. To read more about these investments, click on our portfolio page at www.kalonvp.com.
Kalon also received approval from CIPC for our capital raising prospectus and we will be open until 28th February 2018. To access the prospectus please click here.
The investment in i-Pay will enable the company to continue its aggressive growth into multiple countries across the globe. i-Pay, facilitates bank-to-bank automated and instant electronic funds transfers (EFTs) in a matter of seconds. While EFT’s is not a new technology, our Investment Committee feels i-Pays’ technology is 10X better than any other solution in the market.
The i-Pay instant payment system was launched in November 2014 by three founders, namely, Thomas Pays, Mitchan Adams and Lyle Eckstein, who identified a need for an efficient and secure online payment system in the local market. Pays (pictured below) commented that “As innovators, we have consistently been passionate about developing cutting edge products and services that will both disrupt and benefit the local populace. In this regard, we realised there had to be a more frictionless and safer way of facilitating online payments.”
Thomas Pays, i-Pay CEO, announcing the investment to Kalon Shareholders
As I mentioned before, the investment announcement comes at the same time as our next capital raising round. To assist with the economic growth of South African small to medium enterprises, the SA government, through Section 12J, has implemented a tax incentive for investors. The tax relief is capped at 45% for individuals and trusts and 28% for companies, which mitigates the investment risk and significantly enhances the potential return.
Should you wish to take this opportunity to understand more about an investment into Kalon Venture Partners whilst diversifying your portfolio and taking advantage of the substantial tax savings, please send me a mail, alternatively, please click here to navigate to our Investor Section on our website.
If you have any other questions on the contents of this mail, please do not hesitate to get in touch with me via mail.
I look forward to sharing our Kalon vision and all future successes with you.
Clive Butkow
CEO
Kalon Venture Partners Limited