Crossfin Backs DigiSquad to Expand Digital Payments in Africa

Points clés à retenir

Africa’s fintech ecosystem continues growing, but large financial access gaps remain. According to the World Bank, more than 45% of adults in sub-Saharan Africa remain unbanked. While mobile money has made inroads, underserved populations—especially in rural areas—often lack tailored financial products. Firms like DigiSquad are targeting this gap. Rather than replicating existing solutions, they work with utilities, governments, and SMEs to co-design platforms that respond to unique market dynamics. Their contract with Eskom signals growing institutional trust in local fintech players. Crossfin’s strategy aligns with a broader investment trend focusing on infrastructure and inclusion. Investors are increasingly backing cloud-native, API-driven platforms that can scale quickly and plug into multiple service layers—from utilities to social payments. As funding in the fintech sector becomes more impact-driven, firms that combine commercial viability with inclusive product design are gaining traction. DigiSquad’s growth reflects this shift, particularly in markets overlooked by traditional banks and legacy providers.