Ctrack Holdings, a global telematics and fleet asset management business, has completed a USD 23.4 million (ZAR 406 million) equity raise led by Sanari Capital and 27four Investment Managers. Sanari Capital invested USD 14.4 million through its 3S Growth Fund, with 27four contributing USD 9 million alongside.

Headquartered in South Africa and operating across Africa, the UK, Europe, Australia, and New Zealand, Ctrack delivers predictive telematics insights to clients in logistics, construction, government, and insurance through its Crystal platform. The investment follows Ctrack's 2024 acquisition of Inseego's international telematics operations, which reunified the business under a single global structure after Convergence Partners had acquired Ctrack's Africa and Middle East operations from Inseego in 2021.

The new equity injection will support Ctrack's continued international expansion and the consolidation of its platform, technology, and customer base across its global footprint. Convergence Partners remains a continuing shareholder alongside the new investors.

Verdant Capital – IMAP South Africa acted as sole financial advisor and arranger to Ctrack Holdings on the transaction.