Virgin, Smollan buy into Cape Town’s wiGroup
Richard Branson’s Virgin Group and retail solutions provider Smollan have acquired a stake in Cape Town-based mobile loyalty software company wiGroup, joining Investec Asset Management and Crossfin Technology Holdings as co-shareholders.
The new investment will be used to fast-track wiGroup’s entry into new markets, both developed and developing. The value of the deal hasn’t been disclosed.
wiGroup CEO Bevan Ducasse said in a statement that the company will use the investment to expand more quickly in Europe, Australasia and emerging markets.
