As part of the Series A round of investment that is currently being conducted, Intaba Capital has provided the South African digital student housing network DigsConnect with an amount of funding that has not been disclosed.
The DigsConnect platform was established in 2018 by Alexandria Procter and Greg Ramsay-Keal. It 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 requirements and also find other students with whom to live.
As part of the Series A round of investment that is currently being conducted, Intaba Capital has provided the South African digital student housing network DigsConnect with an amount of funding that has not been disclosed.
The DigsConnect platform enables landlords, estate agents, and property managers to post their property listings. Students are then able to search and sift through these postings to locate housing that meets their requirements and to find other students with whom to live.
Read also: SA Housing Startup, DigsConnect Secures Funding For international Growth
About Intaba Capital
Intaba Capital is an investment and advisory firm that is led by women and provides a variety of consultancy and advisory services. These services include transaction advisory, financial and commercial due diligence services, financial analysis, valuations, value creation, and assistance with capital raising, mergers, acquisitions, and disposals.
The young company successfully completed a pre-Series A investment round the previous year in order to launch its expansion into foreign markets. The company’s primary mission is to assist African students studying in the United Kingdom and the United States in finding housing that is more reasonably priced, conveniently located, and secure. It also engaged into a collaboration with Student.com, the largest website dedicated to student housing in the world, which enabled it to expand its presence to around 30 additional nations and 400 new cities.
DigsConnect is now in the process of acquiring capital for its Series A round, and as part of this process, the company has received funding from Intaba Capital, a Cape Town-based investment and advising firm that is managed by women. The company began operations in 2019, and its services include transaction advisory, financial and commercial due diligence services, financial analysis, valuations, value creation, and aid with capital raising, mergers, acquisitions, and disposals. Additionally, the firm provides consulting and consultancy services.
According to Procter, the investment was made because its work had garnered the notice of a philanthropic organisation located in the United States, which then approached it with the intention of investing in its goal.
What DigsConnect’s Co-founder is Saying
“Being a charity, they required a 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.”
Intaba subsequently decided it would like to invest, “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.