Fintech Startup Sava Africa Raises USD 2 Mn Pre-Seed Fund

Sava Africa, a spend management platform, has raised USD 2 Mn in pre-seed funding to launch its beta in South Africa in Q3 of this year. The funding was from numerous Africa-focused investors, including Quona Capital, Breega, CRE Ventures, Ingressive Capital, RaliCap, Unicorn Growth Capital, and Sherpa Ventures.

Sava focuses on two distinct pain areas that organizations face: expenditure management and reconciliations. The startup has positioned itself to assist organizations in controlling expenditure through the use of spend management technologies, reconciling accounting records, digitizing expense reimbursements, and integrating budgets and actual cash flows.