Issued by Magic Orange
Magic Orange has today announced a significant equity investment by a group of investors, led by Collins Private Equity (CPE) together with Ora Capital, in a move that will enable further international expansion of its progressive Cost Transparency solution.
Magic Orange helps organisations to increase their value through their progressive Cost Transparency SaaS solution that enables better cost alignment and optimisation between Shared Services and their business counterparts.
This investment follows Magic Orange’s successful implementation at several major banks, insurers, retail chains, asset managers and industrial companies across southern Africa, making the international expansion the next logical step.
“We are really excited about this investment as we feel the timing is perfect to enter global markets following our success in gaining a dominant position in southern Africa,“ says Greg Guye, CEO and founder of Magic Orange.
Bruce Chelius, CEO of Collins Private Equity, adds that an early stage investment of this nature is always based on a number of critical factors.
“Once we had satisfied ourselves that the management team has the necessary combination of skills and experience to manage a global expansion, we carefully assessed Magic Orange’s commercial offering, the size and status of its existing clients, as well as the clients’ feedback. Additionally, we considered factors like its network of strategic partners internationally, its competitive advantages and, crucially, its growth potential,” Chelius says.
“Armed with this knowledge, we were extremely happy to undertake this investment in a company that has an excellent reputation among existing clients, in-depth knowledge in its field and a solution that is rapidly becoming a must-have for any large enterprise.”
Wynand Marais, CEO of Ora Capital, added: “Modern enterprises will only truly be successful when they get a handle on their costs, along with the requisite knowledge of how to reduce these in the most effective manner. We are confident that Magic Orange is the answer to the cost transparency, costs control and cost allocation challenges that large organisations face.”
Greg Guye explains further that the reasons for success have been threefold. Firstly, Magic Orange offers ease of operation, granular reporting and world-class dashboards and is business-user focused. Secondly, it is cloud-based, which offers cost-effectiveness and scalability. Thirdly, it delivers an excellent return on investment and adds value to the organisation.
“We are thrilled about this investment which, coupled with our strong network of strategic partners, means Magic Orange is now ready to assist enlightened business leaders in a host of new international markets in gaining better insights into their business, and ultimately generating greater value,” concludes Guye.