ZAR X

What ZAR X does

ZAR X is a privately-held, licensed stock exchange headquartered in Johannesburg, South Africa, founded in 2015. The firm positions itself as a fintech-enabled venue intended to deliver a more efficient market structure relative to incumbent South African exchanges. Its core operating model is that of a regulated securities exchange, with leadership explicitly structured around exchange functions — Etienne Nel as CEO & co-founder, Graeme Wellsted as Director of Listings, and Geoff Cook as Director of Markets and Regulations. The firm is small (1-10 employees) and remains private, with a publicly listed web presence at zarx.co.za.

The firm appears to monetize through standard exchange revenue streams: listing fees from issuers, transaction-based trading fees, and ancillary data or membership services. Direct disclosure of pricing, fee schedules, issuer roster, or trading volume is absent from the available data, limiting visibility into unit economics. A single documented capital event exists — a 2018 funding participation by the Public Investment Corporation — after which no further funding, M&A, leadership change, or product launch has been publicly disclosed.

The broader input contains substantial content describing a separate entity (Web Force Coherence (Pty) Ltd, a Durban-based web design and digital services agency), which appears to be data contamination rather than information about ZAR X itself; this content has been excluded from the analysis of ZAR X. Given the limited disclosed information, the assessment of ZAR X is constrained to inferences about a nascent, licensed, fintech-positioned South African exchange with a small team and sparse public footprint.

Name

ZAR X

Legal name

Web Force Coherence (Pty) Ltd

Website

https://zarx.co.za

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

ZAR X is a privately-held, licensed South African stock exchange, founded in 2015 in Johannesburg, that uses fintech to deliver a more efficient securities market. It operates with a small team and remains in early-stage development.

Ownership category

akta.pro rank

Product category

Securities Exchange

NAICS

Securities and Commodity Exchanges (52321)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Equities Trade Execution Platforms (ATS/MTF/ECN) (FSAFANAA)

Keywords

• Stock exchange
• Securities trading
• Market infrastructure
• Exchange listings
• Trading platform

Headquarters

HQ city

Johannesburg

HQ country

South Africa

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Website Design Services: Custom and standard website design and development services billed as one-time project fees or standard website packages.
2. SEO Services: Search engine optimization services to generate organic traffic for clients, likely billed as recurring retainer or project fees.
3. PPC Advertising: Pay-per-click marketing and advertising management on Facebook, Google and other platforms, billed as a service retainer.
4. Web Hosting: Self-managed Litespeed web hosting services for businesses and individuals.
5. Business Email Solutions: Custom email and bulk email server solutions for businesses.
6. Graphic Design Services: Professional graphic design services for brand and marketing materials.
7. Reseller Program: Channel partners and resellers can refer or white-label Web Force services, generating referral or reseller revenue.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

ZAR X operates a licensed South African stock exchange that applies disruptive fintech to create a more efficient market. The exchange provides securities listings, trading infrastructure, and market regulation services to issuers, brokers, and investors participating in the South African capital markets.

Product overview

Web Force is a South African web design company offering a comprehensive suite of digital services primarily focused on website design and development. The core offering centers on Website Design Services, ranging from standard packages to custom web applications. Additional services include SEO Optimization, PPC Marketing, Graphic Designing, Litespeed Web Hosting, and Business Emails. The company also provides a free Invoice & Quote App for mobile devices and Document Design Services. Services are positioned as affordable solutions for South African small businesses, with a reseller program available for partners.

Differentiator

Problem solved

Functional benefit

Products and services

• Securities listings platform Listings service enabling South African companies to list securities on the licensed ZAR X exchange, overseen by the Director of Listings.
• Trading platform Trading infrastructure operated by ZAR X for execution of securities transactions on the licensed exchange.
• Market regulation and oversight Market regulation and compliance oversight operated by ZAR X, led by the Director of Markets and Regulations.

Named customers7 records

Segments1 record

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered minor.

• South African AidminorOthersWeb Force is a proud sponsor of South African Aid, a charitable organization. This is a philanthropic sponsorship rather than a commercial partnership.
• KNK FoundationminorOthersWeb Force is a proud sponsor of KNK Foundation. This is a philanthropic sponsorship rather than a commercial partnership.
• SPCA DurbanminorOthersWeb Force is a proud sponsor of SPCA Durban, the Society for the Prevention of Cruelty to Animals in Durban. This is a philanthropic sponsorship rather than a commercial partnership.
• Phoenix Community CentreminorOthersWeb Force is a proud sponsor of Phoenix Community Centre. This is a philanthropic sponsorship rather than a commercial partnership.
• Resellers and Partners (Reseller Program)minorChannel Partner/ Reseller/ DistributorWeb Force offers a 'Become A Reseller' program enabling third parties to refer or resell their digital services (website design, SEO, hosting, etc.) to end customers. The program is available at webforce.co.za/reseller-opportunities-become-a-reseller-today/.

Scale indicators5 records

Recent moves3 records

Expansion highlights3 records

Direct peers

• Johannesburg Stock Exchange (JSE): The incumbent licensed exchange in South Africa. ZAR X is explicitly positioned as a more efficient, fintech-led alternative to JSE, serving the same South African listed-equity and member base.
• A2X Markets: A South African licensed secondary equities exchange offering a competing trading venue to JSE. Directly comparable to ZAR X as a domestic challenger exchange using a lower-cost operating model.
• 4 Africa Exchange (4AX): Another licensed South African equity exchange historically pursuing a secondary-listing model. Comparable to ZAR X in market, regulatory status, and challenger-exchange positioning.

Broad incumbents

• Nasdaq, Inc. Global exchange operator running multiple regulated equities venues and marketplace technology. Comparable to ZAR X as an exchange operator, but at vastly larger scale and broader geographic scope.
• Intercontinental Exchange (ICE): Owner of NYSE and global exchange and clearing infrastructure. Comparable as a regulated exchange operator pursuing technology-led efficiency, but operating across many asset classes globally.
• Euronext: Pan-European exchange operator running multiple national equities venues with a unified technology platform. Comparable to ZAR X as a multi-venue exchange operator, though at significantly larger scale.

Regional players

• Nigerian Exchange Group (NGX): Operator of the Nigerian Stock Exchange, the largest equities venue in Sub-Saharan Africa outside South Africa. Comparable as an African regulated equities exchange, though it does not directly compete with ZAR X in the South African market.
• Stock Exchange of Mauritius (SEM): Licensed equities exchange serving the Mauritian capital market. Comparable to ZAR X as a smaller African regulated equities venue, but operating in a different national market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks4 records

Key highlights4 records

Customer concentration

• Facebookfacebook.com/thewebforce
• LinkedInlinkedin.com/company/thewebforce
• Instagraminstagram.com/the_webforce

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors1 record

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 ZAR X