South African fintech startup Sava raises $2 million in pre-seed funding

Oluwajuwonlo Afolabi -

Sava, a South Africa-based fintech startup offering spend management software services for African businesses has raised $2 million in its pre-seed funding from Africa-centred investors.

  • Sava is offering software for businesses to control their spending management and reconciliations, automate record-keeping, and access data to lend prudently.
  • The startup is built on a spending management model that helps small, medium, and large sizes businesses to manage their financial operations and remain functional.  
  • It also plans to offer bank accounts, mobile wallets, payment, and accounting integration in its software, starting at its launch in South Africa in the third quarter and expanding to Kenya, Nigeria, Egypt, and across Africa subsequently.
  • Quona Capital, Breega, CRE Ventures, Ingressive Capital, RaliCap, Unicorn Growth Capital, and Sherpa Ventures invested in the round.