Crossfin Invests in South Africa’s DigiSquad to Boost Financial Inclusion

Beulah Godfrey

April 23, 2025
2 min read

South African fintech group Crossfin has invested in DigiSquad, a payments platform and advisory company based in Johannesburg. Although the amount was not disclosed, the funding will help DigiSquad expand financial access across Africa, especially in underserved areas.

Bishmen Kumalo founded DigiSquad in 2015. Since then, the company has provided services like payments consulting, digital product development, and data analytics. It supports clients in both Africa and the United States. DigiSquad aims to close the financial gap for people and communities that traditional banks often ignore.

Over the past 18 months, the company has developed its main product, DigiEngine. This cloud-based payments platform recently landed a deal with Eskom, South Africa’s power utility, to serve as one of its five national vending agents. This shows the platform’s growing impact and trust.

A Shared Vision with Crossfin

Kumalo said that many financial products fail to meet the needs of underserved communities. She explained that DigiSquad is changing this by building smart, digital tools that support local solutions. She also highlighted that the company is proudly Black woman-owned and committed to creating innovation that makes a real difference.

Kumalo added that Crossfin’s track record of supporting mission-driven fintech startups played a big role in their decision to join forces.

Anton Gaylard, co-founder and CXO of Crossfin, said DigiSquad stood out because of its flexible cloud payments system. He noted that Eskom’s support is a strong signal of the company’s value and potential.

Gaylard also shared that Crossfin plans to use DigiSquad’s platform across its portfolio of fintech businesses. The company sees the partnership as a chance to scale DigiSquad’s impact and help build a strong payments business that serves more African communities.