CRE Venture Capita | Africa Inc.

South Africa’s FlexClub secures another US$5m in funding to scale its operations

March 12, 2021March 12, 2021 Frank

SOUTH AFRICA – South African car subscription marketplace FlexClub, has added a further US$5 million in equity and debt funding to the US$S1.2 million it raised in 2019 to help it scale. Formed in November 2018, FlexClub is a managed marketplace that simplifies investing in cars rented to people using gig platforms to earn a living and essentially allows users to purchase vehicles which are then matched with Uber drivers who pay a weekly rental charge to the investor. In 2019, the marketplace announced a partnership with Uber, offering commercial car subscriptions to…

Mobile gaming start-up Carry1st raises US$2.5m in seed round led by CRE Venture Capital

May 29, 2020June 4, 2020 Frank

SOUTH AFRICA – Carry1st, a mobile gaming startup, has raised a Series Seed round of US$2.5 million led by CRE Venture Capital with participation from Perivoli Innovations, Chandaria Capital, Lateral Capital, Transsion’s Future Hub, and Kam Kronenberg III, among others. This round brings its total capital raised to US$4.0 million, with the proceeds of this round going to recruiting top-tier talent, investing in platform technology, and publishing new content. Pardon Makumbe, Managing Partner at CRE, and Henry Lowenfels, Chief Product Officer of One Team Partners (former Scopely SVP), will join the board. Carry1st is the leading mobile games publisher serving the first generation…