Founded in 1994 by South Africans Johan Dreyer and Willem van Biljon, Mosaic makes software that manages electronic payments in cash machines and pre-paid mobile phones. Its clients include E*Trade, 7-Eleven and General Electric. Now based in Surrey, with offices in Cape Town, Fort Lauderdale and Melbourne, the firm grew sales by 85% a year from £2.1m in 1999 to an annualised £7.2m in 2001, when it made a loss. Last year Mosaic secured a £6.5m investment from GE Equity and Comparex, a South African IT company.
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