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MEDIA RELEASE:
1 December 2020
Rising South African tech company inQuba attracts funding from RMB consortium to accelerate its global expansion
Rand Merchant Bank (RMB) has partnered with venture capital firm Knife Capital to finance further international expansion of one of South Africa’s fast growing and internationally rated technology companies inQuba.
Catherine Townshend, of RMB’s Growth Capital Solutions team which specialises in funding and advising high growth technology companies, said that inQuba’s expertise in the global trend towards customer journey management is regularly “recognised as world class by global research firm Gartner, and American market research company Forrester.”
Customer journey management is the use of technology to analyse behavioural trends and drive contextual, dynamic customer engagement to make dealing with a business as easy as possible whatever route a customer chooses to interact - be it website, mobile devices, voice calls or social media.
“Used effectively it helps grow revenue by guiding customers towards their goals delivering an intelligent customer experience - even anticipating what they might want next,” said Townshend.
“The Covid-19 outbreak has massively raised people’s expectations of the ease of dealing with a business as companies move to digitise. inQuba can greatly benefit and build on its impressive track record.”
inQuba was founded 10 years ago in Johannesburg and has customers across diverse industries such as financial services, e-commerce, insurance and telecommunications and retail.
Michael Renzon, inQuba CEO and co-founder, said: ”The investment will not only keep us ahead of the curve in terms of technology, but will also accelerate inQuba’s expansion through the scaling of the business in South Africa as well as in Australia and the USA, where the company already operates. inQuba also operates in the UK and Asia-Pacific.”
Keet van Zyl, partner and co-founder at Knife Capital, a venture capital investment firm that specialises in the international expansion of innovative African businesses, said: “In the new digital economy we’re seeing businesses come under mounting pressure to increase customer acquisition and retention but the tools and know-how to do this are often scattered across the organisation.
“inQuba has been so successful around the world because they can rapidly pull together, analyse, interpret and act on large volumes of disparate data.
“We believe they can fly the South African and African innovation flag with the best of them.”
End
For more Information contact:
INQUBA
Michael Renzon: mike@inquba.com / +2783-269-9519
@inQubaCX // @MichaelRenzon
KNIFE CAPITAL
Keet van Zyl: keet@knifecap.com / +2782-788-2727
@KnifeCap // @KeetvZ
RMB
Catherine Townsend: Catherine.Townshend@rmb.co.za / +27 82-660-5824
www.rmb.co.za