Intaba Capital led undisclosed Series A funding secured by SA student housing startup DigsConnect
As part of its ongoing Series A round, South African digital student housing platform DigsConnect has received an undisclosed sum of funding from Intaba Capital.
The DigsConnect platform, developed by Alexandria Procter and Greg Ramsay-Keal, enables landlords, estate agents, and property managers to post their property listings. Students can then search and filter through these listings to find housing that meets their needs as well as roommates.
With a focus on assisting African students in the UK and US to find more reasonably priced, practical, and secure housing, the startup closed a pre-Series A round of funding last year to propel its international growth.
DigsConnect has obtained funding from Intaba Capital, a women-led investment and advisory firm based in Cape Town, as it is currently raising its Series A round. The company, which was established in 2019, provides consultancy and advisory services, such as transaction advisory, financial and commercial due diligence services, financial analysis, valuations, value creation, and support for capital raising, mergers, acquisitions, and disposals.
According to Procter, the donation was made possible because one of the US-based charities noticed the charity’s work and wanted to support it.
“Being a charity, they required highly extensive due diligence. For this purpose, Intaba Capital was appointed. Over the course of many months, the Intaba team combed through every transaction we had ever made on our platform, right back to when it was just Greg Ramsay-Keal and I working from his apartment couch,” she said.
“A couple months later, we reconnected with the Intaba Team to assist our company with some financial modelling for our international growth. Over the course of a few months working together, we formed an incredible working relationship.”
Later, Intaba made the decision to make an investment, “taking the first bite out of our Series A round”.
“As a cherry on top – Intaba was founded and is run by two extraordinary women. I’ve been pitching to investors on and off for nearly six years, so I can attest to how rare this is,” Procter said.
