Mobile Payments Startups in Africa
Overview Powered by AI
Mobile payments in Africa are booming, driven by rising smartphone penetration and the need for convenient financial services. Local business leaders are embracing platforms like OPay, Wave Mobile Money, and TerraPay to expand their reach, reduce costs, and improve customer satisfaction. The competition is intense, but the market potential is huge, and the future looks promising.
Cummulative Funding
$1.3B+
Total # of Companies
57
Total Deal Count
125
Total M&A Count
13
Total # of Investors
332
List of Mobile Payments startups in Africa
Add Startup| Startuparrow_upward | Overviewarrow_upward | Last roundarrow_upward | Total raisedarrow_upward | Founded |
|---|---|---|---|---|
OPay empowers users and enables them to accomplish more with their money by providing smart financial services. | Series C | $ 570,000,000 | 2018 | |
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 | |
TerraPay simplifies global money movement – by providing a single connection to the most expansive cross-border payments network. | Debt Financing | $ 248,400,000 | 2014 | |
Yoco is a point-of-sale payments provider for small businesses in Africa. | Series C | $ 106,100,000 | 2013 | |
Finclusion is a Mauritian startup which drives financial inclusion in Sub-Saharan Africa using AI powered and data driven lending. | Seed | $ 42,000,000 | 2019 | |
Paga is building an ecosystem to enable people to digitally send & receive money, and creating simple financial services. | Series B | $ 34,700,000 | 2009 | |
Carbon ignites personal growth through financial innovation | Debt Financing | $ 15,800,000 | 2012 | |
ZirooPay is a fintech startup that makes payment simple and provides internet-free, easy-to-use POS terminals. | Series A | $ 12,137,200 | 2014 | |
Furaha is a purpose-driven lending platform aiming to make finance accessible across sub-Saharan Africa. | Venture | $ 10,000,000 | 2023 | |
Julaya provides a digital account to African entrepreneurs! Bank transfers, MoMo transfers, everything to manage your business! | Seed | $ 7,683,900 | 2018 | |
Talk360 is the leading international voice calling app allowing affordable and reliable international calls to any offline landline or mobile phone. | Seed | $ 7,000,000 | 2016 | |
enza empowers Africa’s financial institutions with the innovation needed for more inclusive, opportunity-led commerce. | Seed | $ 6,750,000 | 2023 | |
Nomanini connects banks and distributors to Africa’s informal merchants | Funding Round | $ 6,550,000 | 2010 | |
Sahl is a mobile bill payment app that uses NFC technology to allow users pay bills for utility services. | Series A | $ 6,000,000 | 2020 | |
Duplo is modernizing payments for B2B companies in Africa. | Seed | $ 5,600,000 | 2021 | |
Payday is a Nigerian fintech startup which to enable swifts global payments for Africans. | Seed | $ 5,100,000 | 2021 | |
SOL Wallet is the easiest way to pay and get paid, to spend, send or save your money. | Seed | $ 4,300,000 | 2017 | |
Maviance Cameroon is a digital financial service provider and technology consulting company. | Funding Round | $ 3,000,000 | 2012 | |
Kredete is a FinTech platform focused on enabling African immigrants to build credit scores and send money back home, | Seed | $ 2,815,000 | 2023 | |
OffGridBox is a Kigali-based startup that provides renewable energy and clean water in remote areas. | Seed | $ 2,505,000 | 2016 |
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
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
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
$ 248,400,000
Employee
501-1,000
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
Founded
2019
Overview
Finclusion is a Mauritian startup which drives financial inclusion in Sub-Saharan Africa using AI powered and data driven lending.
Last round
Seed
Total raised
$ 42,000,000
Employee
2-10
Founded
2009
Overview
Paga is building an ecosystem to enable people to digitally send & receive money, and creating simple financial services.
Last round
Series B
Total raised
$ 34,700,000
Employee
101-250
Founded
2012
Overview
Carbon ignites personal growth through financial innovation
Last round
Debt Financing
Total raised
$ 15,800,000
Employee
51-100
Founded
2014
Overview
ZirooPay is a fintech startup that makes payment simple and provides internet-free, easy-to-use POS terminals.
Last round
Series A
Total raised
$ 12,137,200
Employee
11-50
Founded
2023
Overview
Furaha is a purpose-driven lending platform aiming to make finance accessible across sub-Saharan Africa.
Last round
Venture
Total raised
$ 10,000,000
Employee
2-10
Founded
2018
Overview
Julaya provides a digital account to African entrepreneurs! Bank transfers, MoMo transfers, everything to manage your business!
Last round
Seed
Total raised
$ 7,683,900
Employee
2-10
Founded
2016
Overview
Talk360 is the leading international voice calling app allowing affordable and reliable international calls to any offline landline or mobile phone.
Last round
Seed
Total raised
$ 7,000,000
Employee
11-50
Founded
2023
Overview
enza empowers Africa’s financial institutions with the innovation needed for more inclusive, opportunity-led commerce.
Last round
Seed
Total raised
$ 6,750,000
Employee
11-50
Founded
2010
Overview
Nomanini connects banks and distributors to Africa’s informal merchants
Last round
Funding Round
Total raised
$ 6,550,000
Employee
11-50
Founded
2020
Overview
Sahl is a mobile bill payment app that uses NFC technology to allow users pay bills for utility services.
Last round
Series A
Total raised
$ 6,000,000
Employee
51-200
Founded
2021
Overview
Duplo is modernizing payments for B2B companies in Africa.
Last round
Seed
Total raised
$ 5,600,000
Employee
2-10
Founded
2021
Overview
Payday is a Nigerian fintech startup which to enable swifts global payments for Africans.
Last round
Seed
Total raised
$ 5,100,000
Employee
2-10
Founded
2017
Overview
SOL Wallet is the easiest way to pay and get paid, to spend, send or save your money.
Last round
Seed
Total raised
$ 4,300,000
Employee
11-50
Founded
2012
Overview
Maviance Cameroon is a digital financial service provider and technology consulting company.
Last round
Funding Round
Total raised
$ 3,000,000
Employee
11-50
Founded
2023
Overview
Kredete is a FinTech platform focused on enabling African immigrants to build credit scores and send money back home,
Last round
Seed
Total raised
$ 2,815,000
Employee
11-50
Founded
2016
Overview
OffGridBox is a Kigali-based startup that provides renewable energy and clean water in remote areas.
Last round
Seed
Total raised
$ 2,505,000
Employee
11-50