Africa-based Baobab Network, an early-stage investor that backs startups across Africa, today announced the acquisition of Reflector Marketing, a strategy and branding agency headquartered in South Africa. The company announced the acquisition on April 1, 2024. However, it did not disclose the amount of the transaction.
Purpose of the acquisition by BaoBab
Klyne will become the Director of the Accelerator at Baobab, together with his larger staff. Through this integration, Baobab will be able to provide its portfolio firms with all-encompassing in-house support, hence augmenting their growth and investment preparedness.
Baobab Network has acquired Reflector Marketing, a South African strategy and branding consultancy, to increase its startup assistance skills for African businesses.
By providing expert in-house marketing, branding, and digital capabilities, acquisitions enable Baobab’s portfolio firms to achieve more success and raise more capital. This action is in line with Baobab’s pledge to fund 1000 African companies by the year 2033.
What the BaoBab official has to add
Commenting on the acquisition, Toby Hanington, Co-Founder of Baobab, said, “ The move epitomised Baobab’s ambitious plans and long-term commitment to investing across Africa. Baobab has made no secret that we want to become the leading early-stage investor across Africa. To do so, we’re always thinking about what value we create for founders on top of our capital investment. We’ve worked with the Reflector team since early 2023, and the move to acquire them is a testament to the work they’ve already done with our portfolio. We have incredibly ambitious long-term growth plans, and bringing in Klyne and his team will definitely expedite those.”
What the official from Reflector Marketing has to add
Klyne Maharaj, Founder of Reflector Marketing, further added, “Our goal has always been to help the world’s best startups nail their positioning, win their markets, and raise capital to fuel their growth. Now, as part of Baobab, we’re excited to focus our efforts exclusively on supporting entrepreneurs in Africa. Baobab already has a phenomenal team that has made a profound impact on Africa’s venture ecosystem. Together, we’ll build the most powerful capabilities team of any early-stage investor on the continent.”
About Reflector Marketing
Reflector Marketing was founded in 2022 by Klyne Maharaj and has since grown to become a specialised agency providing digital, branding, and strategic marketing services that are specifically suited to the demands of startups. Reflector, which boasts a varied clientele that spans five continents and includes well-known brands like Jem, Opus, and Batelle, has been instrumental in assisting companies in several industries to improve their positioning and scale.
To explore more such startups, visit Zefyron Startup Database
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