Crossfin, the enterprise capital arm of South African fintech Crossfin, has invested in DigiSquad, a Johannesburg-based funds advisory and platform supplier centered on underserved African markets. Though the funding quantity stays undisclosed, the capital injection will drive DigiSquad’s plans to broaden monetary inclusion throughout the African continent, focusing on each private and non-private sector purchasers.
Based in 2015 by Bishmen Kumalo, DigiSquad offers advisory, consulting, product improvement, and information analytics providers to purchasers throughout Africa and the US. The corporate claims it’s bridging the gaps in monetary inclusion by designing merchandise tailor-made for communities ignored by conventional monetary establishments.
Over 18 months, DigiSquad constructed its flagship platform, DigiEngine, which lately secured a contract as one among Eskom’s 5 nationwide merchandising brokers. In accordance with Crossfin, the collective expertise and experience throughout the squad have enabled the corporate to compete on a fair footing with bigger, extra established corporations.
“Africa’s funds sector is rife with innovation, however many merchandise for underserved communities overlook current native options,” Kumalo stated in a press release. “We’re enabling these options by means of our digital choices and are dedicated to redefining digital innovation as a black woman-owned fintech.”
Kumalo famous that Crossfin’s demonstrated dedication to supporting fintechs centered on high-impact, usually underserved segments like DigiSquad, was a key issue of their choice to associate.
“DigiSquad attracted us due to its cloud-based funds platform that holds nice relevance throughout our portfolio and has already loved the endorsement of Eskom,” stated Anton Gaylard, co-founder and CXO at Crossfin. “We look ahead to utilizing their experience throughout our portfolio and supporting them as they construct out an thrilling funds enterprise.”