UJ Alumni Impumelelo Magazine Edition 8

“While many are successful we need to ensure that there are programmes or courses where SME owners or hopefuls can receive guidance about funding requirements and opportunities. This could be in the form of a business accelerator or incubator.” Fundrr distinguishes itself from other loan issuing entities by offering early repayment incentives that specify the loan amount, duration of repayment, and amount of repayment without any fees upfront. Jarred Noché holds a BCom and Honours in Accounting from UJ.

business and bootstrapped the business from the outset. “I realised that banks just don’t get small businesses. They’re strict, finicky and frugal with lending – because they fear you might not pay them back. They want collateral, a long business history, huge cash flow plans, flowcharts, the kitchen sink. This makes it difficult for SMEs to grow – and this did not sit well with us,” he says. Instead they use intelligent algorithms to assess businesses

Jarred particularly enjoys assisting his clients in growing their businesses while also playing a part in growing the South African economy. “SMEs really do form the backbone of our economy and to be a part of that is truly awesome,” he says. “The COVID-19 pandemic was the most stressful experience since we started Fundrr. With 90% of our clients not trading, it was a lot to deal with. That said, I have never seen such a quick recovery, and to witness SME owners’ agility and ability to pivot or do whatever it takes to get trading again was mind-blowing.

Tokelo Mulaudzi As the daughter of two teachers I was taught from a young age the contribution one can make to society through education, and by making the time to empower others. – Tokelo Mulaudzi

and business owners holistically and, therefore, are able to provide quick, easy and affordable capital to assist SMEs in South Africa. He views his biggest achievement to date to start a business from an idea and to progress to disbursing over R100 million in unsecured funding, based on the clients’ bank statements, lease agreements and supplier statements, within three years. During the pandemic lockdowns, they made offers to South African businesses across all industries provided they could show a 3-month revenue track record and a 3-month trading history. After many learnings from their mentors, Fundrr was able to raise capital in June 2019, which allowed them to build a strong, recognisable brand and grow the business significantly. In September 2020, Fundrr was acquired by Retail Capital, the biggest small business funder in the market. Fundrr has subsequently shown growth of more than 500% in less than a year. Fundrr has partnered with the likes of Telkom assisting them in the lending arm of their new financial services division and also won the SME Finance Company of the Year Award in the CorporateWire Prestige Awards 2020.

Tokelo Mulaudzi, Senior Manager Investor Relations for Momentum Metropolitan Holdings, says she met some amazing people during the judging process in the 2021 SAICA Top-35-Under-35 competition and will forever be grateful for the networks she has built. Having met the other finalists and learning what they achieved in their short careers, she considers herself fortunate to know some pretty awesome people, she says. Tokelo, who prefers to stay out of the limelight, says being a finalist in the competition caused her “to reflect on all that I am and have achieved. The attention was a little strange for someone who tends to stay out of the limelight but I’ve also felt like a bit of a celebrity during this time. Although my future is up to me, I believe the

competition will help open a few doors.” She believes her CA(SA) qualification sets her apart from most people.

“Our training was such that we gained skills that span beyond the typical finance space but at the same time make us experts within finance. Through my articles I developed a curiosity for how business works. I developed a confidence in my knowledge, reporting skills and ability to tell a story from the numbers. “My CA(SA) qualification gave me the skills needed to be effective in my role and opened up the many opportunities I’ve had on my journey to get where I am today. From working in sustainability reporting, to credit and integrated reporting I was given the


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