Kalon Venture Partners invests R10 million in Flow
South African venture capital firm Kalon Venture Partners has invested R10m in local property tech platform Flow, an app that rewards tenants for good behaviour.
Clive Butkow, Kalon Venture Partners CEO, said: “At Kalon Venture Partners we invest in technologies that are disrupting their respective industries and have large target addressable markets.”
“Flow passed both these criteria with flying colors and also passed our most important investment criteria which is having the ‘A’ team. The three founders have all built successful businesses, which is quite rare in South Africa, and have the ‘execution intelligence’ to grow a product into a large profitable enterprise.”
In addition to the R10m invested by Kalon Venture Partners, there is a co-investment of R10m from an international VC, which is in its final stages.
The proptech startup was founded by serial successful entrepreneurs, Daniel Levy, Gil Sperling (Popimedia co-founders) and Jonathan Liebmann (a property disruptor and innovator best known for creating the highly successful Maboneng Precinct in downtown Joburg).
With Flow, the first app of its kind in the world, tenants in South Africa get rewarded for registering, adding their property details, paying their rent on time, looking after their homes, and much more. Source: Africa Global Funds