Procera Group, a business process outsourcing (BPO) services firm based in South Africa, has secured R346 million (equivalent to $18.8 million) in investment from Vantage Capital, an investment manager with a primary interest in Africa. The investment will be utilized to enable future acquisitions by Procera, while Vantage Capital will gain a minority stake from the establishment’s founders.
This influx of funds will be geared towards expanding Procera’s business services in global markets. Since its inception in 1990 as a company dealing with debt recovery solutions, Procera has progressed over the past thirty years into an integrated BPO services company, offering support solutions to both domestic and international clients.
Throughout this period, the company has made considerable investment in its contact centre software. It has harnessed emerging technologies such as generative AI, predictive analytics, and omnichannel communications in a bid to optimize customer user experience and what’s more, increase overall operational efficiency of the company.
South Africa’s Procera Group, a BPO services firm, services more than 50 blue-chip clients, both local and international, spanning major sectors such as retail, financial services, energy, and telecommunications. These clients are located in several countries, such as Namibia, the United Kingdom, the United States, and Australia. Presently, Procera employs over 2,700 individuals.
Regarding the new investment from Vantage Capital, Roshal Ramdenee, Associate Partner at Vantage Capital, has expressed enthusiasm about the collaboration with Procera. He praised the firm’s “capable management team” and its long-term investors and expressed hope for a fruitful partnership.
Ramdenee highlighted the significant potential for job creation and positive economic effects as Procera continues to expand globally at a rapid pace and push the boundaries with its market-leading technological solutions in the BPO sector. He said, “Vantage sees a tremendous opportunity for both job creation as well as a positive economic impact as Procera continues its rapid international expansion and drives market-leading technological solutions in the BPO space.”
Currently, South Africa holds the top position in the list of global BPO destinations. This position is the result of a blend of factors, including the country’s talented young workforce, its favorable time zone alignment with major global markets, and its reputation for offering outstanding customer service.
The global BPO market is projected to grow at an annual average rate of 8.5% through 2029. However, the South African market is anticipated to outpace this, with forecast growth of 13% Compound Annual Growth Rate (CAGR).
Warren van der Merwe, Managing Partner at Vantage Capital, acknowledged the difficulty in finding rapidly growing South African businesses that can maintain competitiveness in developed markets, especially considering the current economic climate. Nevertheless, he showed optimism for the investors delving into the company’s next growth and development phase.
Procera, for its part, expressed appreciation for Vantage’s long-term support and its experienced team of investors. The company aspires to utilize this support to expand its business into international markets. Acting as advisors for this transaction, PWC served as the financial advisor, and Werksmans provided legal counsel for Vantage.
