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Banking-as-a-Service Startups in Africa

Banking-as-a-Service is gaining traction in West Africa, with players like Cauri Money leading the charge. Local business leaders see it as a game-changer, enabling them to offer financial services to their customers without the regulatory burden. The key to success lies in partnerships between fintechs and traditional banks, ensuring compliance and scalability.

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Market Map

6 companies in this sector

CompanyTaglineTotal FundingLast RoundTeam SizeBackersAction
Bank Zero
Bank Zero
South Africa

Bank Zero is a South African app-only digital mutual bank.

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11-50
No Data
Bloc
Bloc
Nigeria

Bloc is building the all-in-one FinTech infrastructure stack — for startups and organisations.

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201-500
No Data
KIMS Microfinance
KIMS Microfinance
Somalia

KIMS Microfinance is Somalia’s first and only dedicated and privately-owned microfinance institution.

$1M
Venture
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51-200
No Data
Cauri Money
Cauri Money
Senegal

Cauri Money offers payment services for African diasporas

$350K
Grant
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2-10
No Data
hela.money
hela.money
Kenya

hela.money aims to digitise the way money moves and flows in the global economy.

$175K
Non-equity Assistance
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2-10
No Data
Lemonade Payments
Lemonade Payments
Kenya

Lemonade Payments is a fintech company simplifying business transactions with seamless payments, transfers, and financial tools.

$100K
Pre-seed
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11-50
No Data