Crossfin, a South African fintech investment team, has initiated its global expansion by investing in UAE-based Unitey Digital Holdings. This investment is made through Crossfin’s newly established investment arm in Singapore, marking a significant step in targeting new markets in the Middle East and Asia.

Anton Gaylard, co-founder and CXO of Crossfin, stated that since the company’s inception, their goal has been to support strategic payment systems in Africa and beyond. He emphasized that the launch of Crossfin Singapore represents an opportunity to apply their successful fintech investment strategy to new regions. Gaylard expressed hope that the investment in Unitey will be the first in a series of similar ventures across the Middle East, Africa, and Southeast Asia.

Crossfin Singapore has garnered support from two initial anchor investors: Standard Bank and Turing Capital Fund, which is part of Chronos Capital Fund VCC. Michael Jordaan from Chronos Capital Advisors SA noted that central banks are currently exploring new payment solutions due to ongoing economic challenges. He highlighted Unitey’s significant role in facilitating payments innovation and maintaining financial sovereignty, which presents promising prospects for both Crossfin and the wider fintech landscape.

Unitey, founded in 2021 by Muzaffar Khokhar, is a technology holding company focused on emerging markets. It includes Mercury, a versatile payment services provider, and operates Shukria, a licensed payment services brand in the UAE. Khokhar expressed satisfaction with Crossfin’s investment, indicating it would significantly accelerate the success of Unitey, which he co-founded alongside Muzaffer Hamid and Gururaj Balakrishna.

Gaylard further commented on the long-standing relationship with Khokhar, indicating a strong mutual understanding developed over the years. He praised Khokhar’s leadership in assembling a team of payment experts at Unitey, stating that this investment aligns well with other businesses in the Crossfin portfolio, making it an exciting addition to their operations.