Prosus Ventures, the venture capital arm of global investment powerhouse Prosus, led and partially controlled by South African billionaire Koos Bekker, is backing Constantinople, a Sydney-based bank digital platform, in a $32.4 million Series-A round. This demonstrates Prosus’ commitment to fintech innovation and its interest in the Australian market.
This investment builds on Constantinople’s A$32 million ($22 million) initial round, which was raised in April 2022 from Square Peg Capital, Airtree Ventures, and Great Southern Bank. Notably, several prior investors returned to participate in the Series A round. The increased funding will allow Constantinople to speed product development, expand its team, and scale operations throughout Australia, with the possibility of expanding into new markets.
Constantinople, a Sydney-based fintech startup formed in 2022 by Dianne Challenor and Macgregor Duncan, provides a software-as-a-service (SaaS) platform for retail and business banking. The fresh money will be used to expand the company’s personnel and improve the capabilities of its platform.
Prosus, a global consumer internet firm formed in 1997 by South African billionaire Koos Bekker, has emerged as one of the world’s greatest technology investors. The Amsterdam-based company has a global portfolio of investments in leading fintech, social media, education technology, and food delivery companies.
Bekker, a visionary entrepreneur who has driven the success of companies like Prosus and its parent company, Naspers, is one of Africa’s wealthiest individuals. This year, his net worth increased by $400 million to $2.7 billion, thanks to his shares in Prosus NV (0.72%) and Naspers (0.96%). His Prosus investment is worth approximately $560 million.
Prosus Ventures’ latest investment in Constantinople demonstrates the firm’s dedication to assisting technology businesses. With this transaction, the venture capital arm has made 99 investments to far, with the goal of empowering businesses to quickly influence their communities and become market leaders through targeted support.
