StartupList Africa Logo

Cummulative Funding

$6.6B+

Total # of Companies

497

Total Deal Count

1016

Total M&A Count

33

Total # of Investors

551

List of Financial Services startups in africa

StartupOverviewLast roundTotal raisedFounded
1.

OPay

Nigeria

OPay empowers users and enables them to accomplish more with their money by providing smart financial services.

Series C

$570,000,000.00

2018

2.

Tala

Kenya

Tala is a financial technology company on a mission to build a financial system that works for everyone.

Series E

$349,439,700.00

2011

3.

Chipper Cash

Ghana

Chipper cash is the largest mobile cross-border money transfer platform in Africa.

Series C

$302,200,000.00

2017

4.

Wave Mobile Money

Senegal

Wave Mobile Money is a Senegalese startup which provides an app-based financial solution to save, transfer, and borrow money.

Debt Financing

$291,500,000.00

2017

5.

MNT-Halan

Egypt

MNT-Halan is Egypt’s largest and fastest growing lender to the unbanked.

Debt Financing

$270,000,000.00

2018

6.

JUMO

South Africa

JUMO is a technology platform, developed for building and running financial services.

Venture

$266,700,000.00

2014

7.

Moove

Nigeria

Moove is a Nigerian mobility fintech that provides revenue-based vehicle financing to mobility entrepreneurs across Africa.

Debt Financing

$223,200,000.00

2019

8.

Enterprise Group

Ghana

The Enterprise Group gives you a range of products for any life and non-life insurance, as well as pension needs.

Private Equity

$180,000,000.00

2008

9.

H2O Securities

South Africa

H2O Securities is Solving Water Scarcity Through Blockchain Finance

Initial Coin Offering

$150,000,000.00

2021

10.

PalmPay

Nigeria

PalmPay is a simple and secure payment app that give rewards.

Series A

$140,000,000.00

2019

11.

Fawry

Egypt

Fawry is the leading Egyptian platform for digital transformation & e-payments

Private Equity

$122,000,000.00

2008

12.

TymeBank

South Africa

TymeBank is a South African fully black-owned and controlled investment company.

Venture

$121,109,182.00

2012

13.

Interswitch

Nigeria

Interswitch is an Africa-focused integrated digital payments and commerce company.

Private Equity

$120,500,000.00

2002

14.

Yoco

South Africa

Yoco is a point-of-sale payments provider for small businesses in Africa.

Series C

$106,100,000.00

2013

15.

Crossboundary

Kenya

CrossBoundary is a mission driven investment firm that unlocks the power of capital for sustainable growth and strong returns in underserved markets.

Private Equity

$100,000,000.00

2011

16.

SA Taxi

South Africa

SA Taxi is a vertically integrated company servicing the minibus taxi industry.

Debt Financing

$100,000,000.00

1998

17.

Oragroup SA

Togo

Oragroup SA provides personal and business banking services.

Debt Financing

$99,500,000.00

1988

18.

Kuda Bank

Nigeria

Kuda Bank is designed for your smartphone, free of ridiculous charges and great at helping you budget, spend smartly and save more.

Series B

$91,600,000.00

2018

19.

Paymob

Egypt

Paymob runs millions of transactions for different business sizes across the Middle East and Africa.

Series B

$68,500,000.00

2015

20.

Aza Finance

Kenya

Enabling businesses to grow past their borders through safe and affordable FX and cross-border money transfer solutions.

Debt Financing

$64,950,000.00

2013

OPay

Founded

2018

Overview

OPay empowers users and enables them to accomplish more with their money by providing smart financial services.

Last round

Series C

Total raised

$570,000,000.00

Employee

201-500

Tala

Founded

2011

Overview

Tala is a financial technology company on a mission to build a financial system that works for everyone.

Last round

Series E

Total raised

$349,439,700.00

Employee

501-1,000

Chipper Cash

Founded

2017

Overview

Chipper cash is the largest mobile cross-border money transfer platform in Africa.

Last round

Series C

Total raised

$302,200,000.00

Employee

11-50

Wave Mobile Money

Founded

2017

Overview

Wave Mobile Money is a Senegalese startup which provides an app-based financial solution to save, transfer, and borrow money.

Last round

Debt Financing

Total raised

$291,500,000.00

Employee

501-1,000

MNT-Halan

Founded

2018

Overview

MNT-Halan is Egypt’s largest and fastest growing lender to the unbanked.

Last round

Debt Financing

Total raised

$270,000,000.00

Employee

10,001+

JUMO

Founded

2014

Overview

JUMO is a technology platform, developed for building and running financial services.

Last round

Venture

Total raised

$266,700,000.00

Employee

201-500

Moove

Founded

2019

Overview

Moove is a Nigerian mobility fintech that provides revenue-based vehicle financing to mobility entrepreneurs across Africa.

Last round

Debt Financing

Total raised

$223,200,000.00

Employee

51-200

Enterprise Group

Founded

2008

Overview

The Enterprise Group gives you a range of products for any life and non-life insurance, as well as pension needs.

Last round

Private Equity

Total raised

$180,000,000.00

Employee

251-500

H2O Securities

Founded

2021

Overview

H2O Securities is Solving Water Scarcity Through Blockchain Finance

Last round

Initial Coin Offering

Total raised

$150,000,000.00

Employee

11-50

PalmPay

Founded

2019

Overview

PalmPay is a simple and secure payment app that give rewards.

Last round

Series A

Total raised

$140,000,000.00

Employee

51-200

Fawry

Founded

2008

Overview

Fawry is the leading Egyptian platform for digital transformation & e-payments

Last round

Private Equity

Total raised

$122,000,000.00

Employee

251-500

TymeBank

Founded

2012

Overview

TymeBank is a South African fully black-owned and controlled investment company.

Last round

Venture

Total raised

$121,109,182.00

Employee

51-200

Interswitch

Founded

2002

Overview

Interswitch is an Africa-focused integrated digital payments and commerce company.

Last round

Private Equity

Total raised

$120,500,000.00

Employee

501-1000

Yoco

Founded

2013

Overview

Yoco is a point-of-sale payments provider for small businesses in Africa.

Last round

Series C

Total raised

$106,100,000.00

Employee

51-200

Crossboundary

Founded

2011

Overview

CrossBoundary is a mission driven investment firm that unlocks the power of capital for sustainable growth and strong returns in underserved markets.

Last round

Private Equity

Total raised

$100,000,000.00

Employee

51-200

SA Taxi

Founded

1998

Overview

SA Taxi is a vertically integrated company servicing the minibus taxi industry.

Last round

Debt Financing

Total raised

$100,000,000.00

Employee

501-1000

Oragroup SA

Founded

1988

Overview

Oragroup SA provides personal and business banking services.

Last round

Debt Financing

Total raised

$99,500,000.00

Employee

1001-5000

Kuda Bank

Founded

2018

Overview

Kuda Bank is designed for your smartphone, free of ridiculous charges and great at helping you budget, spend smartly and save more.

Last round

Series B

Total raised

$91,600,000.00

Employee

11-51

Paymob

Founded

2015

Overview

Paymob runs millions of transactions for different business sizes across the Middle East and Africa.

Last round

Series B

Total raised

$68,500,000.00

Employee

51-200

Aza Finance

Founded

2013

Overview

Enabling businesses to grow past their borders through safe and affordable FX and cross-border money transfer solutions.

Last round

Debt Financing

Total raised

$64,950,000.00

Employee

101-250

Browse Financial Services industry stats

2012201220132013201420142015201520162016201720172018201820192019202020202021202120222022Year Founded91017233641506143454Financial Services startup growth in Africa616155555050444438383333272721211515101044# of Startups
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Jul '19Jul '1920202020Jul '20Jul '2020212021Jul '21Jul '2120222022Jul '22Jul '22Financial Services Funding Activity in AfricaShowing historic funding chart$500000000$500000000$400000000$400000000$300000000$300000000$200000000$200000000$100000000$100000000$0$0
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