Virgin Group has announced an investment in mobile software firm wiGroup.
The investment follows a successful partnership with wiGroup on the creation of Virgin Money South Africa’s new peer-to-peer payment app, Virgin Money Spot, which launched in January 2018. The app allows customers to send money to friends in a simple, safe and social way.
Josh Bayliss, Virgin Group CEO, 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.
“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.”
wiGroup was founded in 2007 and since then has experienced rapid growth, with year-on-year growth over the last few years consistently over 45 per cent. In less than a decade, wiGroup has established itself as the largest mobile transactional platform in Africa, with more than 75,000 integrated till points accepting mobile payments, loyalty and rewards transactions. The business has recently established in Amsterdam, London and Paris and is now looking to the Middle East and Australia as key growth markets in the future.
wiGroup CEO Bevan Ducasse commented: “Virgin has a focus on working with innovative entrepreneurs to identify and commercialise new services and technologies; their purpose-driven approach to business is something which wiGroup is proud to join forces with.
“Our business faces a world of exciting new opportunities just as we cross the 10 year mark. We look forward to working closely with our new partners over the coming months as we bring our vision to the world.”