FinTech Startups in Africa

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FinTech is booming in Southern Africa, driven by high smartphone penetration and a large unbanked population. Players like Tabby, MNT-Halan, and OPay are gaining traction by offering tailored financial services. Local business leaders are optimistic, seeing FinTech as a key enabler for financial inclusion and economic growth.

Cummulative Funding

$15.7B+

Total # of Companies

620

Total Deal Count

1528

Total M&A Count

38

Total # of Investors

2305

List of FinTech startups in Africa

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Upgrade to StartupList Africa PRO for unlimited access to this list.

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Upgrade to StartupList Africa PRO for unlimited access to this list.

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Upgrade to StartupList Africa PRO for unlimited access to this list.

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Upgrade to StartupList Africa PRO for unlimited access to this list.

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StartupOverviewLast roundTotal raisedFounded
1.

Tabby creates financial freedom in the way people shop, earn and save by reshaping their relationship with money.

Series E

$ 1,904,000,000

2019

2.

Zepz is unlocking the prosperity of cross-border communities through finance and technology.

Series F

$ 960,600,000

2021

3.

MNT-Halan is Egyptโ€™s largest and fastest growing lender to the unbanked.

Venture

$ 827,500,000

2018

4.

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

Series C

$ 570,000,000

2018

5.

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

Series D

$ 528,409,182

2012

6.

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

Series B

$ 447,200,000

2019

7.

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

Series E

$ 349,439,700

2011

8.

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

Series C

$ 302,200,000

2017

9.

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

2017

10.

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

Venture

$ 266,700,000

2014

11.

TerraPay simplifies global money movement โ€“ by providing a single connection to the most expansive cross-border payments network.

Debt Financing

$ 248,400,000

2014

12.

Cross-border, cross-currency, cross-network payments.

Debt Financing

$ 215,200,000

2009

13.

Moniepoint provides a seamless platform to accept payments digitally, receive credit and access business management tools.

Corporate

$ 203,100,000

2015

14.

Thunes is a B2B company that powers payments for the worldโ€™s fastest-growing businesses.

Series C

$ 202,000,000

2016

15.

Tasaheel is a financing company for micro-projects with easy and simple payment systems.

Funding Round

$ 138,000,000

2015

16.

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

Private Equity

$ 122,000,000

2008

17.

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

Private Equity

$ 120,500,000

2002

18.

Lemonade Finance is a Nigerian multi-currency payments solution.

Series B

$ 119,550,000

2020

19.

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

Series C

$ 106,100,000

2013

20.

Fido is an Africa-focused credit first neobank for the unbanked

Series B

$ 94,000,000

2014

Tabby

Founded

2019

Overview

Tabby creates financial freedom in the way people shop, earn and save by reshaping their relationship with money.

Last round

Series E

Total raised

$ 1,904,000,000

Employee

51-200

Zepz

Founded

2021

Overview

Zepz is unlocking the prosperity of cross-border communities through finance and technology.

Last round

Series F

Total raised

$ 960,600,000

Employee

1,001-5,000

MNT-Halan

Founded

2018

Overview

MNT-Halan is Egyptโ€™s largest and fastest growing lender to the unbanked.

Last round

Venture

Total raised

$ 827,500,000

Employee

10,001+

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

Employee

201-500

TymeBank

Founded

2012

Overview

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

Last round

Series D

Total raised

$ 528,409,182

Employee

51-200

Moove

Founded

2019

Overview

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

Last round

Series B

Total raised

$ 447,200,000

Employee

51-200

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

Employee

501-1,000

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

Employee

11-50

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

Employee

501-1,000

JUMO

Founded

2014

Overview

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

Last round

Venture

Total raised

$ 266,700,000

Employee

201-500

TerraPay

Founded

2014

Overview

TerraPay simplifies global money movement โ€“ by providing a single connection to the most expansive cross-border payments network.

Last round

Debt Financing

Total raised

$ 248,400,000

Employee

501-1,000

Founded

2009

Overview

Cross-border, cross-currency, cross-network payments.

Last round

Debt Financing

Total raised

$ 215,200,000

Employee

51-100

Founded

2015

Overview

Moniepoint provides a seamless platform to accept payments digitally, receive credit and access business management tools.

Last round

Corporate

Total raised

$ 203,100,000

Employee

1,001-5,000

Thunes

Founded

2016

Overview

Thunes is a B2B company that powers payments for the worldโ€™s fastest-growing businesses.

Last round

Series C

Total raised

$ 202,000,000

Employee

201-500

Tasaheel

Founded

2015

Overview

Tasaheel is a financing company for micro-projects with easy and simple payment systems.

Last round

Funding Round

Total raised

$ 138,000,000

Employee

10,001+

Fawry

Founded

2008

Overview

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

Last round

Private Equity

Total raised

$ 122,000,000

Employee

251-500

Founded

2002

Overview

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

Last round

Private Equity

Total raised

$ 120,500,000

Employee

501-1000

Founded

2020

Overview

Lemonade Finance is a Nigerian multi-currency payments solution.

Last round

Series B

Total raised

$ 119,550,000

Employee

2-10

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

Employee

51-200

Fido

Founded

2014

Overview

Fido is an Africa-focused credit first neobank for the unbanked

Last round

Series B

Total raised

$ 94,000,000

Employee

51-200

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