Lebashe Financial Services (Pty) Ltd, a 100% owned subsidiary of the Lebashe Investment Group (Pty) Ltd, currently owns 74.92% of the ordinary share capital in RainFin with control being assumed on 1 June 2017.
The various acquisitions were staged as follows:
December 2016: 30%
June 2017: 21 %
May 2018: 24%
All acquisitions were financed organically with no outside or exterior funding required.
RainFin is South Africa’s first, and currently only, online credit marketplace. The marketplace owns and operates the foundational lending elements of a new future proof bank and the technology platform has been built, the operational and legal frameworks designed, to offer a multi-product lending marketplace in South Africa. The business was launched in response to the increasing cost of traditional lending.
RainFin pioneered a viable alternative for quality borrowers seeking transparent, cost effective loans, as well as lenders looking for returns that are in excess of current market offerings. RainFin’s vision is to reduce traditional costs and barriers for borrowers and lenders through innovative technology, thereby creating a truly transparent and fair marketplace. RainFin’s core competencies are the origination, packaging, servicing and structuring of secured and unsecured debt products to individuals, SMEs, SOEs, corporates and even Municipalities.