The finer details of the deal aren’t in the open yet, but we have been informed that UK-based technology conglomerate, Potential Group is making a move into Africa. That move has led them to acquire Starta, a business-support platform for startups and entrepreneurs.
“What Potential Group is bringing to the table allows Starta to speed up our core operation in Africa and to leverage existing resources from Potential: growth, content, technology and money. Potential has proven experience of building high growth businesses at scale, with websites they own getting up to 5 million visitors per day.” said Dotun Olowoporoku, founder of Starta and incidentally, venture partner at Potential VC. Remember Dotun from our TechCabal Live session last week?
He continued, “They also have significant experience of investing and working with early stage startups (with over 30 early stage investments in 3 years). Joining potential will dump fuel on our fire to execute our vision faster and better.”
In the same vein, Potential Group founder, Doug Scott said, “We already see real engagement from our Asia effort. We have been observing the growth trajectory in Africa and believe that the strategic investment in Starta will give us the opportunity to be part of the growth.”