New post Need visibility? Apply for a FREE post for your Startup.  Apply Here

Startups

Cassava Technologies raises $50 million to facilitate digital inclusion in Africa

1 Mins read

Strive Masiyiwa’s Cassava technologies has secured a $50 million funding as part of its broader funding round.

Cassava technologies, which is one of the brainchild of Masiyiwa, prides itself as the first Pan-African integrated technologies company. The company, which has Masiyiwa as its Executive Chairman, said it secured the funding from the London-based venture capital firm, C5 Capital.

Cassava technologies, and C5 Capital have been in business together a few times before now, with one of their recent business being the joint venture both companies had. The venture was made with the aim of scaling Microsoft’s suite of cybersecurity products across the African continent.

According to Cassava technologies, the funds will be used to facilitate the company’s efforts to accelerate digital connectivity inclusion across the continent.

Commenting on the fundraise, Cassava technologies Founder and Executive Chairman, Strive Masiyiwa, said:

“This investment from C5 is part of our plan to raise additional growth capital whilst diversifying our investor base. We are delighted that C5 has joined us to help realise our vision of a digitally connected future that leaves no African behind.”

André Pienaar, CEO of C5 Capital, also commented on the partnership between Cassava technologies and C5 Capital, he said:

“We are delighted to partner with Cassava Technologies, to bring the most innovative cybersecurity, space and energy security products and services to African markets. Following the launch of Cassava Technologies’ cutting- edge cybersecurity Security Operations Centre (SOC) planned for Johannesburg later this year, we see tremendous growth potential for Cassava Technologies’ cybersecurity business to help protect African enterprises and communities.”

Read also: Bloom – a Sudanese fintech startup – raises $6.5m in its seed round

Cassava technologies provides services that surrounds data centres, fibre networks, renewable energy projects, cybersecurity, fintech and digital platforms. The company currently operates in 20 African countries.

Don’t miss any tech news ever!

We don’t spam! Read our privacy policy for more info.

840 posts

About author
When I'm not reading about tech, I'm writing about it, or thinking about the next weird food combinations to try. I do all these with my headphones plugged in, and a sticky note on my computer with the words: "The galaxy needs saving, Star Lord."
Articles
Related posts
Startups

D.light secures $176m to boost solar energy access in East Africa

1 Mins read
d.light, a global provider of affordable solar solutions, has announced a new $176 million securitization facility. This funding, backed by social impact-focused…
Startups

Tanzania's NALA secures $40m to revolutionize African fintech landscape

1 Mins read
NALA, the Tanzania-born remittance startup, has successfully closed a $40 million Series A funding round. Led by Acrew Capital, with participation from…
Startups

South African fraud prevention startup - Orca - raises $550K to tackle cybercrime surge

1 Mins read
As cyber threats escalate across the African continent, a Cape Town-based startup has raised fresh funding to equip financial institutions with advanced…
Newsletter Subscription

🤞 Don’t miss any update!

We don’t spam! Read more in our privacy policy

Join our Telegram channel here - t.me/TechpadiAfrica

Leave a Reply

×
Startups

Bloom - a Sudanese fintech startup - raises $6.5m in its seed round