wiGroup, a mobile transacting software company, has secured investment from two leading global companies to fast-track its entry into emerging and developed markets. 

The Virgin Group's global investment arm and retail solutions leader Smollan have purchased a stake in the business for an undisclosed sum. 

This follows a similar investment in wiGroup in 2015 by Investec Asset Management through its African private equity capability. 

Investec Asset Management remains the largest shareholder in the company.

Adriaan Dippenaar, Associate Principal in Private Equity at Investec Asset Management, said: “We are delighted to have Virgin Group and Smollan on board as strategic international partners in wiGroup.”  

“This investment recognises wiGroup as a globally leading developer of mobile transacting software. We look forward to supporting the dynamic founder-management team and working closely with our new partners to drive the next phase of the company’s growth and development.”

Since Investec Asset Management’s investment in 2015, wiGroup has more than doubled revenues, client numbers and store footprint, and more than tripled transaction volumes.
  
In less than a decade, wiGroup has established itself as the largest mobile transactional platform in Africa with over 75 0000 integrated till points accepting mobile payments, loyalty and rewards transactions, with a growing African market presence in countries including South Africa, Namibia, Zambia, Nigeria, Mauritius, and Ghana. 

wiGroup's key clients include leading retail, banking, quick service chains, insurance, and telecoms companies. 

Through its software as a service, the company has delivered mobile transacting solutions to leading international hospitality and retail brands who are looking to enable their customers to engage and transact via their mobile phones in a simpler and more rewarding way.
 
wiGroup CEO Bevan Ducasse said the latest investment comes as the company is looking to accelerate its global expansion program. 

"Our presence in Europe and expansion into Australasia and emerging markets will be fast-tracked by leveraging both Virgin Group and Smollan's extensive global network. As a business this brings us one step closer to realising our vision of simplifying and improving the way the world transacts."
 
The Virgin Group is a family-owned growth capital investor for global growth, with a portfolio of over 35 companies spanning the consumer internet, fintech, and sharing economy sectors. 
Josh Bayliss, CEO of Virgin Global, said: “More and more people are using their phones to pay each other, pay for products or take advantage of loyalty offerings. wiGroup is an established player in this sector and has innovative solutions in place which will simplify and improve mobile transactions globally.”
 
Bayliss added: “We are always on the lookout for innovative companies with an eye on making our customers’ lives easier; we’re delighted to be investing in wiGroup and we look forward to supporting them on the next stage of their business journey”
 
Smollan is one of the world's leading retail solutions providers, operating in over 450 000 retail stores, employing 60 000 people in 24 markets across 5 continents. 

Smollan's experience with directing all aspects of how a brand is managed at the point of purchase, and its extensive global footprint create natural synergies with wiGroup’s consumer-centric mobile transactional software and point-of-sale integrations. 

David Smollan, CEO, said: "wiGroup has successfully pioneered mobile loyalty, rewards, and transacting services for some of the world's leading brands. Its understanding of mobile as a transactional tool is perfectly suited to brands operating in both developed markets as well as fast-paced emerging market environments. We look forward to a strong partnership with Bevan and his team."