America’s Growth Capital is pleased to announce that its client, Fundamo (Pty) Ltd., a Cape Town, South Africa-based leading provider of mobile financial services for mobile network operators and financial institutions in emerging economies, has been acquired by Visa, the global payments technology leader, for cash consideration of approximately $110 million. The acquisition supports Visa’s global innovation strategy announced last month to provide the next generation of payments solutions for any stage economy, enabling consumers to transact wherever and whenever they choose using a card, a computer or a mobile device. With a team led by Tim Harned, America’s Growth Capital acted as sole financial advisor to Fundamo.
We had a very good feeling about Tim and AGC from the first meeting. He promised senior-level attention and delivered, while demonstrating honesty, commitment and trustworthiness along the way. AGC ran a comprehensive global process for us and performed above expectations on an industry-defining, cross-border transaction in mobile payments. I look forward to the opportunity to work with Tim and AGC again in the future.Hannes van Rensburg, CEO and Founder of Fundamo
AGC acted as sole financial advisor to Fundamo in June, 2011