Crossfin Ventures has made a strategic investment in Momint, a Web3 platform provider offering tokenised investments in a range of solar projects and other assets in South Africa.
Anton Gaylard, co-founder and CXO at Crossfin and Managing Director of Crossfin Ventures, says they are excited to back a strong team playing a leading role in the development of Web3 applications. “We have been impressed by the team’s focus on leveraging Web3 technology to solve current real-world pain points and remain at the cutting edge of technologies that support the tokenisation and sale of digitised assets. With the success of their tokenisation of solar projects and ability to apply Web3 technology to other real-world asset classes such as property and art, we can’t help but be excited about the new innovations Ahren and his team develop in future.”
Momint was founded in 2021 by South African entrepreneur Ahren Posthumus. The company recently won ‘Best Web3’ category at the Global Startup Awards Africa, as well as the SolarX Grand Challenge for innovations in Distributed Solar Grids for its SunCash initiative.
“We launched our SunCash initiative in 2023 to provide South Africans with an accessible investment opportunity offering solid returns that also supports a greater good of alleviating loadshedding,” says Posthumus, who is also Momint’s CEO. “Investors can purchase shares in select solar projects from as little as R150. With six projects currently online and more in the pipeline, investors can enjoy healthy returns in a high-growth asset backed by 20-year purchasing agreements delivering returns of 12%.”
Investors can download the Momint app and explore our current projects before choosing the one in which they’d like to invest and completing an easy and user-friendly in-app purchase.
With tax season in full swing, investors can also take advantage of the Section 12b tax allowance benefits under which the South African Revenue Service (SARS) offers significant tax incentives for any investment into new solar sites. A solar certificate can be purchased via the Momint app, which investors can submit with their tax returns to receive the SARS rebate.
“We encourage South Africans to invest in solar energy and enjoy a passive income while supporting the greater good of relieving some of our loadshedding-related pressures,” says Posthumus.
He adds that the Crossfin investment will be leveraged to support the company’s growth and build out its pipeline of projects further. “We also look forward to exploring synergies with the broader Crossfin investee companies who all play a pivotal role in the African fintech ecosystem.”
Gaylard adds: “We hope to leverage the Crossfin portfolio to enable Momint to be at the leading edge of the enablement of payment initiatives and the tokenisation of digital assets powering Web3 into the future, and we remain excited about the opportunity to leverage the technology to gamify the Metaverse.”
For more information about Momint, please visit www.momint.so/
