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Verod Capital, a prominent African investment management firm specialising in private equity, is pleased to announce its most recent investment from the Verod Capital Growth Fund III, marking the fourth addition to the fund’s portfolio and further enhancing Verod’s value-centric approach, acting as a catalyst to propel businesses forward and stimulate growth.
AfricInvest, a leading pan-African investment platform, first invested in iSON Xperiences in 2018 and is now renewing its commitment through AfricInvest Funds III and IV. Over the past five years, the firm has supported iSON Xperiences in its international expansion, leading to increased productivity, profitability, and the creation of over 5,000 quality jobs.
As iSON Xperiences embarks on its next chapter alongside AfricInvest and Verod, the company is committed to strengthening its leading position in Africa. The new capital infusion will empower it to diversify its service offerings and to enter new markets. Central to this strategy is the integration of digital tools to optimise customer operations, enhancing customer experience and agent productivity through digital self-service while concurrently developing agent skills.
As a BPO provider, iSON Xperiences offers employment opportunities that transcend borders creating high-quality jobs in developing nations grappling with unemployment. This global employment model has propelled sectors like Financial Services to improve customer service offerings significantly. Furthermore, iSON Xperiences’ commitment to gender equality is evident, with women comprising 54% of the workforce and holding almost a third of all line management positions. This commitment to enhancing job quality and promoting women to leadership roles will be further solidified in the next phase of our partnership.
Danladi Verheijen, Co-Founder and Managing Partner at Verod Capital, commented on the acquisition, saying, “Verod’s excitement about this opportunity stems from several key factors. Africa holds immense potential for BPO services, thanks to its diverse, multilingual population and cost-efficient operational environment. Additionally, the rapid advancements in artificial intelligence (AI) are creating new collaborative and innovative avenues. BPO expertise is now creatively applied to tackle long-standing financial challenges like debt recovery. iSON is at the forefront of these transformative developments in Africa and beyond, and Verod is honoured to be one of their preferred partners on this journey.”
Hakim Khelifa, Senior Partner at AfricInvest, added, “Our re-investment in iSON underscores our unwavering belief in the company’s potential and its positive impact on employment in developing nations. We have already achieved a lot in terms of growth, footprint, and diversification. The next chapter will be even more exciting with the objective to enter new countries and provide more added value services to our customers. We look forward to working actively with the iSON team and its shareholders on this next leg of our journey together.”
Pravin Kumar, Global CEO at iSON Xperiences, said, “We extend our gratitude to AfricInvest for their demonstration of confidence through the doubling of their investment in iSON Xperiences. Additionally, we take great pride in welcoming Verod Capital as our new investment partners. iSON Xperiences is strategically positioned to achieve a significant increase in its value over the next two to three years, utilizing a combination of organic and inorganic growth strategies. This direction is grounded in our steadfast belief in the transformative power of job creation and service excellence. Our primary focus is centered on the attainment of offshore hard currency revenue within the GCC, European, and UK markets. We have placed emphasis on digital initiatives, leading to the introduction of numerous digital services and products. This strategic move toward digital transformation of our existing services is geared towards bolstering profitability and enhancing overall value. The iSON Xperiences team is quite excited with this development and is highly enthusiastic about the prospects that lie ahead and remains dedicated to realizing our vision.”
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