FinTech Startups in Africa
Overview Powered by AI
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
$1B+
Total # of Companies
69
Total Deal Count
180
Total M&A Count
5
Total # of Investors
342
List of FinTech startups in Africa
Add Startup| Startuparrow_upward | Overviewarrow_upward | Last roundarrow_upward | Total raisedarrow_upward | Founded |
|---|---|---|---|---|
Tala is a financial technology company on a mission to build a financial system that works for everyone. | Series E | $ 349,439,700 | 2011 | |
TerraPay simplifies global money movement – by providing a single connection to the most expansive cross-border payments network. | Debt Financing | $ 256,500,000 | 2014 | |
Thunes is a B2B company that powers payments for the world’s fastest-growing businesses. | Series C | $ 202,000,000 | 2016 | |
Conduit enables businesses to simply and cheaply move money between Latin America, Africa, China and the US at scale. | Series A | $ 59,000,000 | 2024 | |
Hakki Africa is a Kenya-based FinTech startup that provides microfinance services for small and medium-sized enterprises. | Debt Financing | $ 27,684,000 | 2018 | |
Mogo is a Kenyan vehicle financing company. | Debt Financing | $ 23,200,000 | 2018 | |
Tanda is a Kenyan fintech startup working to revolutionize access to digital financial services for micro-retilers across Africa. | Seed | $ 20,000,000 | 2017 | |
Lipa Later is a digital lending marketplace providing "buy now pay later" services. | Grant | $ 18,140,000 | 2015 | |
Pyypl is a blockchain technology-based fintech providing digital payments and financial services for smartphone users. | Series A | $ 11,000,000 | 2017 | |
Untapped Global is connecting global investors to the most promising investment opportunities in Africa and other emerging markets | Pre-seed | $ 10,300,000 | 2020 | |
PawaPay is a pan-African payments company that provides mobile payment solutions to African consumers or businesses. | Seed | $ 9,000,000 | 2020 | |
MyCredit is a Kenyan consumer-focused fintech offering quick loans and insurance solutions to individuals. | Debt Financing | $ 8,600,000 | 2015 | |
Watu Credit Limited offers asset financing (motorcycles and three-wheelers) and group lending products (short-term and business loans) | Venture | $ 8,500,000 | 2015 | |
Asante Financial Services Group is a Kenyan startup advancing financial independence of underserved small businesses and individuals in Africa. | Series A | $ 7,500,000 | 2016 | |
HoneyCoin is building tools to help people move & spend money anywhere, affordably and at the speed of the internet. | Seed | $ 5,050,000 | 2020 | |
Financing and operational support platform helping low‑cost private schools grow and improve education quality. | Debt Financing | $ 5,000,000 | 2021 | |
Kotani Pay enables blockchain protocols, dapps and blockchain fintech companies to integrate seamlessly to local payment channels in Africa. | Corporate | $ 4,235,000 | 2021 | |
IMFact provides smart finance for Kenyan SMEs in the supply chain. | Seed | $ 3,900,000 | 2019 | |
Koa is a an App based platform that helps you save and grow your money at the tap of a button | Venture | $ 2,510,000 | 2021 | |
Credrails is building the open finance rails for Africa by connecting various data sources into a single api for a variety of use cases. | Seed | $ 2,500,000 | 2020 |
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
2014
Overview
TerraPay simplifies global money movement – by providing a single connection to the most expansive cross-border payments network.
Last round
Debt Financing
Total raised
$ 256,500,000
Employee
501-1,000
Founded
2016
Overview
Thunes is a B2B company that powers payments for the world’s fastest-growing businesses.
Last round
Series C
Total raised
$ 202,000,000
Employee
201-500
Founded
2024
Overview
Conduit enables businesses to simply and cheaply move money between Latin America, Africa, China and the US at scale.
Last round
Series A
Total raised
$ 59,000,000
Employee
11-50
Founded
2018
Overview
Hakki Africa is a Kenya-based FinTech startup that provides microfinance services for small and medium-sized enterprises.
Last round
Debt Financing
Total raised
$ 27,684,000
Employee
11-50
Founded
2018
Overview
Mogo is a Kenyan vehicle financing company.
Last round
Debt Financing
Total raised
$ 23,200,000
Employee
1,001-5,000
Founded
2017
Overview
Tanda is a Kenyan fintech startup working to revolutionize access to digital financial services for micro-retilers across Africa.
Last round
Seed
Total raised
$ 20,000,000
Employee
51-200
Founded
2015
Overview
Lipa Later is a digital lending marketplace providing "buy now pay later" services.
Last round
Grant
Total raised
$ 18,140,000
Employee
51-200
Founded
2017
Overview
Pyypl is a blockchain technology-based fintech providing digital payments and financial services for smartphone users.
Last round
Series A
Total raised
$ 11,000,000
Employee
51-200
Founded
2020
Overview
Untapped Global is connecting global investors to the most promising investment opportunities in Africa and other emerging markets
Last round
Pre-seed
Total raised
$ 10,300,000
Employee
51-200
Founded
2020
Overview
PawaPay is a pan-African payments company that provides mobile payment solutions to African consumers or businesses.
Last round
Seed
Total raised
$ 9,000,000
Employee
11-50
Founded
2015
Overview
MyCredit is a Kenyan consumer-focused fintech offering quick loans and insurance solutions to individuals.
Last round
Debt Financing
Total raised
$ 8,600,000
Employee
201-500
Founded
2015
Overview
Watu Credit Limited offers asset financing (motorcycles and three-wheelers) and group lending products (short-term and business loans)
Last round
Venture
Total raised
$ 8,500,000
Employee
101-250
Founded
2016
Overview
Asante Financial Services Group is a Kenyan startup advancing financial independence of underserved small businesses and individuals in Africa.
Last round
Series A
Total raised
$ 7,500,000
Employee
11-50
Founded
2020
Overview
HoneyCoin is building tools to help people move & spend money anywhere, affordably and at the speed of the internet.
Last round
Seed
Total raised
$ 5,050,000
Employee
11-50
Founded
2021
Overview
Financing and operational support platform helping low‑cost private schools grow and improve education quality.
Last round
Debt Financing
Total raised
$ 5,000,000
Employee
51-200
Founded
2021
Overview
Kotani Pay enables blockchain protocols, dapps and blockchain fintech companies to integrate seamlessly to local payment channels in Africa.
Last round
Corporate
Total raised
$ 4,235,000
Employee
2-10
Founded
2019
Overview
IMFact provides smart finance for Kenyan SMEs in the supply chain.
Last round
Seed
Total raised
$ 3,900,000
Employee
11-50
Founded
2021
Overview
Koa is a an App based platform that helps you save and grow your money at the tap of a button
Last round
Venture
Total raised
$ 2,510,000
Employee
2-10
Founded
2020
Overview
Credrails is building the open finance rails for Africa by connecting various data sources into a single api for a variety of use cases.
Last round
Seed
Total raised
$ 2,500,000
Employee
2-10