United Kingdom (UK)-based tech investment firm Potential Group has acquired pan-African startup support platform Starta, with the move set to accelerate Starta’s growth across the continent.
The investment in Starta – a free business support platform for startup founders in Africa, which provides a curated mix of practical business advice, software tools, networking and funding opportunities – is the first venture Potential Group has made into Africa.
The company is parent to several online enterprises, including Asapcompare.com, 30m.com, Carrentals.co.uk and Potential.VC, and said its investment in Starta – currently working out of Nigeria – would help the startup support platform accelerate its growth across Africa and give it useful leverage in the African startup scene.
“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,” said Doug Scott, founder of Potential Group.
Starta founder Dotun Olowoporoku said the acquisition would allow Starta to speed up its core operation in Africa by leveraging existing resources from Potential, such as content, technology and money.
“Potential has proven experience of building high growth businesses at scale, with websites they own getting up to five million visitors per day. They also have significant experience of investing in and working with early stage startups. Joining Potential will dump fuel on our fire to execute our vision faster and better,” Olowoporoku said.
Disrupt Africa reported in February Starta had launched its first entrepreneur competition, offering up to US$1,000 worth of support to early-stage startups and entrepreneurs.
The Starta Entrepreneur Competition aims to help entrepreneurs address challenges faced while setting up a business, including registering as a legal entity, how to design and get the business brand into the hands of customers, developing a web presence, and setting up finance, accounting and tax.
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