By Ayomide Otitoju
Verdant IMAP has announced its role as sole financial advisor and arranger to Ctrack Holding in the successful completion of a USD 23.4 million (ZAR 406 million) equity raise, led by Sanari Capital and 27four Investment Managers—two leading South African investment firms with strong B-BBEE credentials. The investment will accelerate Ctrack’s global expansion following its acquisition of Inseego’s international telematics business.
The funding was secured through Sanari Capital’s 3S Growth Fund, which invested USD 14.4 million (ZAR 250 million), and 27four Investment Managers, which contributed USD 9 million (ZAR 156 million).
This transaction marks the reunification of Ctrack’s global operations. In 2021, Convergence Partners acquired Ctrack’s Africa and Middle East business from Inseego. In 2024, Ctrack completed the acquisition of Inseego’s remaining international telematics units across Europe, Australia, and New Zealand. The latest capital injection enables Ctrack to consolidate its platform, technology, and customer base under a unified global structure.
Ctrack’s flagship Crystal platform provides predictive telematics insights for clients in logistics, construction, government, and insurance sectors. With its operations now spanning Africa, the UK, Europe, Australia, and New Zealand, the company is positioned to deliver an integrated, data-driven service offering to clients worldwide.
“This reunification is a defining milestone in Ctrack’s history,” said a company representative. “With the backing of Sanari Capital, 27four Investment Managers, and continued support from Convergence Partners, we are consolidating our international operations under one global framework—driven by innovation, scale, and customer excellence.”
Verdant IMAP’s involvement was instrumental in bringing both investors on board, reinforcing Ctrack’s shareholder base and supporting its next growth phase. The transaction highlights investor confidence in Ctrack’s trajectory and the role of inclusive capital in building globally competitive technology enterprises.
As IMAP’s exclusive partner in the region, Verdant IMAP leverages a global M&A advisory network spanning over 50 countries to connect African businesses with international investors and strategic partners. The transaction further strengthens Verdant IMAP’s leadership in cross-border growth capital advisory across the technology and mobility sectors.
