DigsConnect, a South African digital student housing platform, has closed a pre-Series A round of funding to drive its global expansion with a focus on assisting African students in the UK and US acquire more reasonably priced, practical, and secure housing.
The DigsConnect platform, which was launched in 2017 by Alexandria Procter, Brendan Ardagh, and Greg Keal, allows landlords, real estate agents, and property managers to list their available properties. In order to discover housing that meets their needs and locate other students to live with, students can search and filter through these postings.
DigsConnect has grown to be the leading marketplace for student housing in South Africa since its start in 2018. They have linked up thousands of landlords and tenants who are students, as well as students and roommates.
After raising a $200k grant funding in October last year, the startup recently signed agreement with Student.com, the leading global provider of student housing, allowing it to increase its footprint in about 30 additional nations and 400 new cities. Its site currently lists more than 1.3 million beds, and it is growing its operations into the US, UK, Singapore, and Europe.
DigsConnect has now raised and undisclosed pre-Series A funding from Launch Africa Ventures, Goodwater Capital, Five35 Ventures, and Delta Ventures. This is to give its expansion process a push. The firm will be able to scale its international operations and dramatically accelerate its expansion strategy thanks to this group of investors.
According to Procter, the funding speaks volumes about the strength of the team, the importance of our strategic collaboration with Student.com
“The tech startup industry is experiencing a funding winter at the moment, so the fact that we received so much early support from excellent Pan-African and US investors speaks volumes about the strength of the team, the value of our strategic partnership with Student.com, our strategy of early profitability, and sound unit economics,” said Procter.