Platform Capital Targets 2-fold Investment in Precise Reputation, Jan 2019 Roll Out in View
Platform Capital, one of the leading African angel investors which has not hidden its interest in new Precise Reputation may have finally made it a two prong investments in the latter company with both parties agreeing to a Commercial Agreement in addition to the Investment Agreement which had been on the table for the better part of the year ended, 2018 sources familiar with deal revealed.
Although total value coming through from investment and debt of the deal could be around half a billion Naira, this could not be ascertained as at the time of filing this report. Our source however, confirmed the deal which is now an all encompassing one will also see both parties giving serious considerations to working capital issues post-investment and deepening talent pool, given that as a service platform, talents are essential part of the technology led business.
To further underscore Platform Capital’s belief in the Precise Reputation Design start-up, the former is said to have requested to further enhance its proposed equity stakes, a requested which sources disclose is being given favourable consideration by Bolaji Okusaga, Founder/CEO, Precise and his team.
In the same token, our impeccable source also revealed that both parties are committed to closing the deal early this month (January) 2019 to make room for capital disbursement for the business’ seamless roll-out latest at the end of the month.
It will be recalled that Brandcrunch exclusively reported in March 2018, that Platform Capital, an African wide investment company expressed interest in taking equity interest in Precise Reputation Design with a view to expanding the frontiers for both organisations by leveraging on each other’s comparative advantages.
This is very much in line with one of the African Angel investor’s motives which is to “look for seed level investments where our experience and network of advisors can help growth” as published on the company’s corporate portal.
Platform Capital’s interest in Precise’s which earlier covered two unique proprietary platforms developed by the start-up – Platform Social Interactive e-Commerce platform and the Intuitive Content platform, has definitely been expanded with the desire to add a commercial angle to the equity investment. This will cover business referrals and such ancillary interests.
Precise’s social interactive e-commerce platform also known as Excite Enterprise is targeted at unlocking the business fortune and potential of small scale and medium scale enterprises. Its enormous possibilities include influencer marketing, SMS and email solutions, payments and other logistics solutions. Excite Enterprise has the capability to deepen buyers and sellers’ relationship in a seamless manner reveals a source close to the deal.
Platform Capital is also fascinated by Precise’s Intuitive Content platform called Engine. Engine, according to investigation, is designed to aggregate contents possibly from popular culture in a structured manner. It could also be deployed in buying or building unique contents for brands’ marketing and relationship purposes.
Bolaji, a strategy and brand enthusiast with wide experience in Media and Marketing, who is obviously optimistic about his start-up business, declined comments on expanded investment bouquet, but would rather maintain that talks are going on, the partner, scope and coverage will be made known when necessary papers have been signed and our unique products out there”, he said.