Press Release – Equity Investment
MagicOrange secures international investment
MagicOrange has today announced a significant equity investment by a group of investors, led by Collins Private Equity (CPE) together with Ora Capital, in a move that will enable further international expansion of its progressive Cost Transparency solution. MagicOrange helps organizations to increase their value through their progressive Cost Transparency SaaS solution that enables better cost alignment and optimization between Shared Services and their business counterparts.
This investment follows MagicOrange’s successful implementation at several major banks, insurers, retail chains, asset managers and industrial companies across Southern Africa, making the international expansion the next logical step. “We are really excited about this investment as we feel the timing is perfect to enter global markets following our success in gaining a dominant position in Southern Africa,“ says Greg Guye, CEO and founder of MagicOrange. Bruce Chelius, CEO of Collins Private Equity adds that an early stage investment of this nature is always based on a number of critical factors. “Once we had satisfied ourselves that the management team has the necessary combination of skills and experience to manage a global expansion, we carefully assessed MagicOrange’s commercial offering, the size and status of its existing clients, as well as the clients’ feedback.
Additionally, we considered factors like its network of strategic partners internationally, its competitive advantages and, crucially, its growth potential,” Chelius says. “Armed with this knowledge, we were extremely happy to undertake this investment in a company that has an excellent reputation among existing clients, in-depth knowledge in its field and a solution that is rapidly becoming a must-have for any large enterprise.” Wynand Marais, CEO of Ora Capital added: “Modern enterprises will only truly be successful when they get a handle on their costs, along with the requisite knowledge of how to reduce these in the most effective manner.
We are confident that MagicOrange is the answer to the cost transparency, costs control and cost allocation challenges that large organizations face.” Greg Guye explains further that the reasons for success have been threefold. Firstly, MagicOrange offers ease of operation, granular reporting and world-class dashboards and is business-user focused. Secondly, it is cloud-based which offers cost effectiveness and scalability. Thirdly, it delivers an excellent return on investment and adds value to the organization. “We are thrilled about this investment which, coupled with our strong network of strategic partners, means MagicOrange is now ready to assist enlightened business leaders in a host of new international markets in gaining better insights into their business, and ultimately generating greater value,” concludes Guye. For further information, please contact us here.
MagicOrange is a dynamic financial management solutions company made up of a team of dedicated professionals, consisting of Chartered Accountants and technology experts. Our team have been pivotal in creating and implementing Cost Transparency solutions at large global financial, insurance and retail institutions. With their vast practical knowledge of implementing cost transparency, the MagicOrange experts are recognized for their thought leadership on the topic: Whitepaper on Cost Transparency Shaping Business Demand Thought leadership article on What drives a full cost transparency?
About Collins Private Equity
CPE invests in unlisted businesses by funding management buy-outs, expansion capital for established growing businesses or, to a limited extent, early stage capital for new businesses. Its philosophy is to form partnerships with the management teams of the businesses that it invests in, built on a basis of integrity and trust.
About Ora Capital
Ora Capital is a Section 12J venture capital company offering investors a fully tax-deductible investment uncorrelated to traditional investments. The company mainly invests in operating rental businesses, providing investors with stable dividend returns and capital preservation, with a liquidity profile that facilitates an efficient exit at the end of the investment term. It also offers investors opportunities to invest in high growth investments such as MagicOrange.