News
Ctrack raises $23.4 million equity from Sanari Capital and 27four
South African fleet telematics firm Ctrack has raised $23.4 million in equity funding, co-led by Sanari Capital and 27four Investment Managers.
By Propel Africa · 2025-10-08
Ctrack has raised $23.4 million in equity funding from Sanari Capital and 27four, Technext24 reported on 8 October. Sanari put in $14.4 million through its 3S Growth Fund and 27four Investment Managers invested $9 million, and both are described as lead investors.
What Ctrack does
The South African company turns data from devices, sensors and GPS into insights on efficiency, growth and safety. It serves logistics, construction, government and insurance customers, offering predictive insights for fleets. Hein Jordt is the chief executive, and Technext24 says the business draws on 40 years of experience in data-driven technology.
Who else is involved
Existing investor Convergence Partners welcomed Sanari and 27four as equity partners, while Verdant IMAP acted as sole financial advisor and intermediary. The funding follows Ctrack's completed acquisition of Inseego's remaining international telematics operations across Europe, Australia and New Zealand.
Plans
The money will be used to accelerate scale, growth and innovation across Ctrack's businesses in Africa and globally. Its markets include Africa, the UK, Europe and Australia. "Africa has some of the toughest operating conditions for fleets," said Ofentse Pelle, partner at Sanari Capital.
At a glance
- Company: Ctrack
- Raised: $23.4 million
- Round or Type: Equity funding
- Lead/Investors: Sanari Capital ($14.4 million), 27four Investment Managers ($9 million)
- Based in: South Africa
- Markets: Africa, UK, Europe, Australia
- Key number: 40 years of experience