Peninsula Capital, Intel Capital and Adlevo Capital Make a Second Round Investment in Rancard (Sub-Saharan Africa)
Ghana-based Rancard, a provider of social recommendations technology for mobile content and services, has received a second round of investment led by investment management firm Peninsula Capital. Existing investors private equity fund manager Adlevo Capital and Intel Capital, Intel’s global investment and M&A organization, also participated in the round. Adlevo and Intel originally invested in July 2012. Rancard intends to use the fresh funding to build partnerships and deepen its technology base. Financial details of the transaction were not disclosed.