Yaoundé, 10 April 2019, After few weeks of teasing, one of the top references of African video games, Officially launches the opening of its capital to national and international Private Investors.
Kiro’o is using it’s famous « Rebuntu Equity Crowdfunding » process which allows Private Investors to buy shares as from 500 USD (about 275 000 FCFA). In addition, they will have the right to vote and participate in the management of the company via a special Intranet.
« The relationship with a shareholder is as important as that in marriage. Beyond money, Kiro’o will only retain investors who are compatible with our vision. We also ensure rigorous due diligence on investors' sources of income » explains BASSANGNA Jean-Yves, co-founder and CFO of the studio.
« Since the teasing, we have recorded about 150 000 USD subscriptions from VIP investors who wrote to us. Some have already concreted their intentions » says Olivier Madiba, founder and CEO of KIRO'O.
The summary of the business plan available to the public shows that, Kiro’o anticipates its growth potential to reach at least 1 million customers in Africa by 2025; with an annual turnover of 20 million USD. Interested Private Investors can obtain the document here.
Beyond its equity crowdfunding, the studio uses more traditional channels in parallel. For example, we learn that Rebecca ENONCHONG, one of the leaders in technology in French-speaking Africa, is one of the "Lead investors" of this round through her business Angels union, the "Cameroon Angels Networks" or CAN. She comes to the Kiroo table with more institutional and prestigious VCs and business Angels. This is enough to add to the credibility references of the studio whose CV already speaks loudly enough.
