Procera Group, a South African-based provider of business process outsourcing (BPO) services, has raised R346 million (approximately $18.8 million) from Vantage Capital, an investment firm focusing on Africa. This funding, which includes a minority stake acquisition from the company’s founders, is intended to support Procera’s future growth, particularly as it expands into international markets.
Originally founded in 1990 as a debt recovery service, Procera has grown into a comprehensive BPO firm offering a variety of support solutions. Over the years, the company has invested heavily in technology, incorporating innovations like generative AI, predictive analytics, and omnichannel communication to improve both customer experiences and internal operations.
Procera currently serves over 50 blue-chip clients across industries such as retail, finance, telecommunications, and energy, with operations in markets like the UK, US, Australia, and Namibia. The company employs more than 2,700 people globally.
Roshal Ramdenee, an Associate Partner at Vantage Capital, expressed enthusiasm about the partnership, highlighting the potential for job creation and economic benefits as Procera accelerates its international expansion. He praised the company’s leadership and the high-tech solutions it brings to the BPO industry.
South Africa is recognized as a top global BPO destination due to its young workforce, advantageous time zone, and high-quality customer service. The country’s BPO sector is expected to outperform the global average, with a projected compound annual growth rate (CAGR) of 13% through 2029, compared to the global market’s 8.5% CAGR.
Warren van der Merwe, Managing Partner at Vantage Capital, acknowledged the difficulty of identifying fast-growing South African businesses capable of competing in developed markets, but expressed confidence in Procera’s prospects. With this new investment, Procera is well-positioned to grow and expand its services internationally.
Advisors for the transaction included PwC as the financial advisor and Werksmans as legal counsel for Vantage Capital.
