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SA fintech firm secures R40m Naspers investment

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South Africa News News

Naspers Foundry invests R40 million in financial advisory fintech firm LifeCheq. Naspers LifeCheq

Naspers has invested R40 million in financial advisory fintech firmThe investment is part of a total R53 million series A investment round led by Naspers Foundry, with the balance funded by existing investors.

It combines integrated workflows and an online dashboard to give its users a central place to manage their personal finances, enabling them to set and track their financial goals. Phuthi Mahanyele-Dabengwa, South Africa CEO of Naspers, comments: “We are passionate about supporting entrepreneurs that make a meaningful contribution to society. Through LifeCheq, holistic, personalised financial advice can be made accessible to previously underserved South Africans.

The investment in LifeCheq marks Naspers Foundry’s fifth fintech investment in SA-focused technology companies and eleventh tech transaction since its launch in 2019.

 

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