Mettle.net

What Mettle.net does

Mettle.net (Mettle Specialised Solutions) is a South African specialist financial services company founded in 1995 by Heine Prinsloo, headquartered in Cape Town (Tygervalley) with additional offices in Johannesburg (Melrose Arch and Strubensvalley). The firm operates multiple interconnected business units: Corporate and Specialised Finance (advisory, capital raising, M&A, JSE sponsor services and business rescue PCF); Debtors Finance (purchase of outstanding invoices, predominantly for SMEs and mid-market firms in automotive, FMCG, construction, engineering and transport); Mettle Medical Finance (working capital for medical practitioners with a 24-hour payment guarantee on approved claims); Mettle Business Finance (acquired July 2025, debtor/invoice-backed SME funding, formerly BlackMarble); and the G-PAY payment technology platform, held through a stake in Incatorque (Pty) Ltd.

The underlying technology centres on G-PAY, a PASA-registered Systems Operator and Third Party Payment Provider offering patented payment guarantee functionality and lock-box arrangements that automate payment flows between supply chain parties. G-PAY is integrated with all four major South African retail banks (ABSA, FNB, Standard Bank, Nedbank) and was co-developed with a well-known insurer for SME supply chain risk mitigation. Mettle also offers the free Mettle Analytics tool for SMEs and start-ups, and a JSE debt sponsor service for issuers exceeding R100M. The company is registered as a Financial Services Provider (FSP 45098 for Mettle Specialised Finance, FSP 46001 for Mettle Corporate Finance).

Mettle generates revenue primarily through advisory and structuring fees (retainer plus success-based components), capital raising fees, transaction fees on debtors finance and medical finance volumes, and flat fees for treasury management services. The firm serves a client base ranging from global corporates to medium enterprises and SMEs, with a substantial minority shareholder (SAAD Investment Holdings) and prior investment from CDC plc's Gridworks Development Partners into its solar investments vehicle. Mettle was unbundled from Tradehold Limited in 2018 through a management buyout, gained independence, and has since pursued a measured expansion strategy including a clean energy vertical and a 2025 SME finance acquisition.

Name

Mettle.net

Legal name

Mettle Financial Solutions

Website

https://mettle.net

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

1–10 employees

Short description

Mettle.net is a South African specialist financial services company founded in 1995 offering corporate advisory, debtors finance, medical finance, JSE sponsor services and the G-PAY payment technology platform to global corporates, mid-market firms and SMEs.

Ownership category

akta.pro rank

Product category

Specialist Financial Services

NAICS

Other Activities Related to Credit Intermediation (522390), Other Management Consulting Services (541618), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Miscellaneous Business Credit Institution (6159), Services-Management Consulting Services (8742)

akta.pro primary industry

M&A / Corporate Finance Finders (Deal Origination) (FSAEAMAD)

Keywords

• Debtors finance services
• Corporate finance advisory
• Medical practice finance
• Payment technology solutions
• Working capital solutions

Headquarters

HQ city

Cape Town

HQ country

South Africa

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Advisory and Structuring Fees: Mettle provides advisory and structuring services for corporate finance transactions. Fees are typically structured as a retainer coupled with a success component, or on outcomes/deliverables basis.
2. Capital Raising: Mettle manages the process of raising debt and/or equity finance from local and international banks, financial institutions and other investors. Minimum size for capital raises is usually R30 million. Fees are typically a retainer coupled with a success component.
3. Debtors Finance: Mettle assists service providers and suppliers with working capital by purchasing their outstanding debtor invoices. The firm has been assisting clients with working capital requirements for over 20 years.
4. Medical Finance: MMF provides working capital to Medical Doctors, specialists and medical service providers, guaranteeing payment of approved claims within 24 hours.
5. Treasury Solutions: Mettle assists corporate clients and high net worth individuals with surplus cash resources exceeding R5 million to maximise their returns within their risk and liquidity profile. A flat fee is levied.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels2 records

Core offering

Mettle is a specialist financial services company that sources, structures, and arranges capital and working capital solutions for South African corporates, mid-market firms, SMEs, and medical practitioners. Its portfolio spans debtors finance, medical finance, corporate and specialised finance (capital raising, M&A, mezzanine, trade finance, securitisation, treasury), business rescue / post-commencement funding, and a proprietary PASA-registered payment technology platform, G-PAY, with Lock-Box arrangements integrated across major South African banks.

Product overview

Mettle Specialised Solutions is a specialist financial services company founded in 1995, offering a portfolio of interconnected financial products and services. The core offering includes Corporate and Specialised Finance (advisory and structuring), Debtors Finance, Mettle Medical Finance, G-PAY (payment technology), and Mettle Business Finance. These products provide comprehensive financial solutions spanning capital raising, working capital finance, trade finance, mergers & acquisitions, asset securitisation, and payment technology. The portfolio is unified through shared infrastructure including the G-PAY payment platform with integrations to major South African banks (ABSA, FNB, Standard Bank, Nedbank), enabling services like Lock Box arrangements for SME financing. Mettle Analytics provides free financial tools for small businesses, while Sponsor Services handles JSE obligations.

Differentiator

Problem solved

Functional benefit

Brands

• G-PAY: PASA registered payment technology platform offering real-time fund reservation, allocation and reporting across major South African banks. Provides guaranteed payment solutions and lock-box arrangements for businesses.
• Mettle Corporate & Specialised Finance
• Mettle Medical Finance
• Mettle Analytics
• Lock-Box

Products and services

• Corporate and Specialised Finance (MCSF) Advisory and structuring business offering experienced transaction financing, capital raising, M&A advisory, and bespoke client-centric financial solutions to global corporates and mid-sized companies from offices in Johannesburg and Cape Town.
• Debtors Finance Working capital solution that purchases outstanding debtor invoices from service providers and suppliers to accelerate cash flow, covering industries including automotive body repairers, FMCG, construction, engineering, and transport.
• Mettle Medical Finance (MMF) Working capital provision for medical doctors, specialists and medical service providers, guaranteeing payment of approved claims within 24 hours and including professional reporting and detailed reconciliations.
• G-PAY PASA-registered Systems Operator and Third Party Payment Provider offering patented payment technology that reserves, allocates and reports on funds in real-time across major South African banks, including lock-box arrangements for automated payment flows.
• Mettle Business Finance Debtor/Invoice backed funding business for SMEs, providing fast funding solutions originated by BlackMarble Business Finance and now operating as a division of Mettle.
• Mettle Analytics Free online financial tool that helps small businesses, start-ups and their accountants generate more cash, calculate cash runway and understand return on equity.
• Business Rescue & Post-Commencement Funding (PCF) Specialised funding for companies in business rescue or protective state, offering super-preferent ranking in claims with a focus on risk mitigation and value creation, plus bespoke structuring and de-risking of rescue funding transactions.
• Sponsor Services JSE continuing obligations and transactional sponsor services including equity and debt specific transaction advice, corporate action timelines, and circulars.
• Treasury Solutions Cash resource management for corporate clients and high net worth individuals with surplus cash exceeding R5 million, designed to maximise returns within the client's risk and liquidity profile and levying a flat fee.

Quantifiable outcome

• Payment guarantee within 24 hours for medical claims
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core and strategic.

• Incatorque (Pty) LtdcoreTechnology or IntegrationMettle is a shareholder of Incatorque (Pty) Ltd, a fintech company whose flagship product G-PAY offers unique payment solutions. G-PAY is a PASA registered Systems Operator (SO) and Third Party Payment Provider (TPPP).
• Payments Association South Africa (PASA)coreOthersG-PAY is an authorised payment services provider enrolled as a systems operator with the Payments Association South Africa. PASA is the industry body governing payment systems in South Africa.
• ABSA Bank LimitedstrategicTechnology or IntegrationG-PAY solutions provide full integration to the banking services of ABSA Bank Limited, one of South Africa's major retail banks. Lock-box arrangements are independently administered with banks integrated on the G-PAY platform.
• First National Bank (FNB)strategicTechnology or IntegrationG-PAY solutions provide full integration to the banking services of First National Bank, a division of FirstRand Bank Limited. Part of the four retail banks integrated on the G-PAY platform.
• Standard Bank Group LimitedstrategicTechnology or IntegrationG-PAY solutions provide full integration to the banking services of Standard Bank Group Limited. Part of the four retail banks integrated on the G-PAY platform.
• Nedbank LimitedstrategicTechnology or IntegrationG-PAY solutions provide full integration to the banking services of Nedbank Limited. Part of the four retail banks integrated on the G-PAY platform.
• DealsuitestrategicChannel Partner/ Reseller/ DistributorMettle Corporate and Specialised Finance is listed on the Dealsuite network, a leading M&A platform which connects advisors and investors across international markets. This expands their reach to potential buyers and investors beyond South Africa's borders.
• Sustainable Power Solutions (SPS)strategicStrategic or Co-development PartnerMettle Corporate and Specialised Finance acted for selling shareholders and closed a deal unlocking US$40 million investment into SPS, a Gridworks portfolio company. The investment supports SPS's expansion across sub-Saharan Africa providing clean energy.
• BlackMarble Business FinancecoreStrategic or Co-development PartnerBlackMarble Business Finance was acquired by Mettle in July 2025 and now operates as Mettle Business Finance. Previously founded by Gert van Deventer in 2022 as a business specialising in Debtor/Invoice backed funding.
• Well-known Insurer (for Lock-Box)strategicStrategic or Co-development PartnerMettle and G-PAY developed the Lock-Box technology together with SME suppliers and a well-known insurer to address risks in the SME supply process.
• QuestCostrategicStrategic or Co-development PartnerMettle entered into a cooperation agreement with QuestCo to provide full service offering to clients including JSE continuing obligations, periodic financial reporting, corporate governance, and JSE transactional sponsor services.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Lula: South African digital platform providing SME funding and cash-flow solutions. Comparable to Mettle's Medical Finance and Mettle Business Finance verticals serving working capital-constrained small businesses.
• Merchantec Capital: JSE-listed South African boutique corporate finance and institutional equity house. Comparable to Mettle in providing M&A advisory, capital raising, and structured finance solutions to mid-market companies in South Africa.
• Peresec: South African boutique corporate finance advisory firm offering M&A, capital raising, and BEE advisory. Closely comparable to Mettle's Corporate & Specialised Finance arm in size, scope, and target client segment.
• Bridgement: South African online invoice discounting and working capital platform serving SMEs. Directly comparable to Mettle's debtors finance, invoice discounting, and Mettle Business Finance products in providing fast invoice-backed funding.
• Lulalend: South African online lender providing working capital to SMEs. Comparable to Mettle's debtors finance and Lock-Box offerings for SMEs that lack access to traditional bank financing.
• PSG Capital: South African corporate finance advisory and sponsor services firm. Directly comparable to Mettle's Corporate & Specialised Finance division, providing capital raising, M&A advisory, and JSE sponsor services to mid-market and corporate clients.

Emerging players

• PayJustNow: South African fintech offering buy-now-pay-later and payment solutions to merchants and consumers. Compares to G-PAY's payment innovation footprint in South Africa, though addressing consumer payments rather than B2B payment guarantees.
• Peach Payments: South African payment gateway and processing platform. Comparable to G-PAY as another domestic payment technology provider, though focused more on merchant acquiring and online checkout rather than B2B payment guarantees and lock-box functionality.

Broad incumbents

• Rand Merchant Bank Corporate Finance: Investment banking division of FirstRand in South Africa providing M&A advisory, debt capital markets, and structured finance. Overlaps with Mettle's corporate finance and capital raising services but operates at materially larger scale within a major banking group.
• Investec Corporate Finance: South African and UK-listed bank with a substantial corporate finance advisory business covering M&A, capital raising, and structured finance. Overlaps broadly with Mettle's advisory offering but as part of a much larger, diversified bank.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mettle-solar-investments-pty-ltd

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries4 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mettle.net