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SA VC company’s latest investment to benefit local startups

If you run a business, you’ll know the importance and value of decent accounting – and this is why venture capital company Grovest’s backing of SMEasy a local company specialising in accounting for small startups – is good news.

Grovest has described the investment as “sizeable” without giving specific figures on the values involved.

“You don’t have to know anything about ‘debits’ and ‘credits’ or jargon like contra-entries and journals. All you have to do is enter the information you understand – i.e. what you bought, what it cost and how you paid. SMEasy does the rest.” reads SMEasy’s explanation on its website.

This backing from Grovest means that SMEasy’s can now provide its services to a greater number of startups, many of whom may find the accounting process a hassle. SMEasy also includes payroll administration to its offer for R150 per month or R1 650 per year including vat. You may also take advantage of the 30 day free trial by completing the Free Trial form on SMEasy’s website.

Grovest has also included the appointment of its non executive director as Chairman of the Board at SMEasy as part of the deal.

“Grovest team bring a wealth of experience and expertise as well as a vast network. We have already benefitted significantly from their partnership in the short time we have been engaged,” SMEasy head Darlene Menzie said.

SMEasy is not new to notable investments having received support in the past from 4Di Capital as well as the ASISA Enterprise Development Fund. Support from Grovest does however add to perceptions of that Venture Capital (VC) culture in South Africa is on the up and up.

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