Private equity firm Calculus Capital has invested GBP2.2m in Brighton-based Every1Mobile, the developer of a mobile communications platform that is helping to deliver measurable socio-economic inclusion programmes at scale across Africa.
Every1Mobile provides digital communication solutions and online community management to large corporates and international development agencies. The funding from Calculus, a leading EIS and VCT investor, will help Every1Mobile to continue development of its platform technology and increase the geographical scope and scale of its work.
Algy Williams, Every1Mobile CEO, says: “In emerging markets, major corporates are now moving socio-economic inclusion from the periphery to the very centre of their commercial strategy – helping their customers become healthier, better educated and able to earn a living is good for the balance sheet. And the huge penetration of mobile phones and increasing access to the internet provides an unprecedented opportunity to reach the bottom of the pyramid and emerging middle class on behalf of corporates and international development agencies alike.
“Having Calculus Capital as an investor will be a great asset as we take on more projects across more geographies and with greater scale. The expertise of the Calculus team in advising and guiding growing companies will be extremely valuable to us.”
Every1Mobile has delivered programmes across South Africa, Kenya, Nigeria, Ghana, Cote d’Ivoire, Uganda, Sierra Leone, Zambia, and Rwanda. These initiatives help to achieve key development goals in areas such as sexual health, digital and financial literacy, business skills, family planning, gender and nutrition.
Alexander Crawford, Investment Director, Calculus Capital, says: “Every1Mobile is doing important work across sub-Saharan Africa, engaging and developing communities in key areas and in measurable ways. CEO Algy Williams and the senior team at Every1Mobile have demonstrated that the use of mobile technology can transform how socio-economic inclusion programmes are delivered. There are very significant cost and efficiency benefits and they have created a world leading platform, specifically tailored for the task.”
The investment follows Calculus launching a GBP10m fundraising for its VCT last month.
