45 Fintech Startups Disrupting the Financial Landscape in Africa 2025

In Summary

• Fintech is the fastest-growing Start-up industry in Africa, raising over $1.3 billion in 2021 alone and $16.3 billion to date.
• Reports reveal that the African Fintech market is projected to grow by at least 10% yearly to reach approximately $230 billion by 2025.
• South Africa has emerged as the market leader of Fintech in Africa, accounting for 40% of all Fintech revenue in the continent.

Deep Dive!!

At the turn of the millennium, many critics debunked investors' claims that Africa would be the next big fintech destination. The analysts cited key challenges, including a fragmented regulatory landscape and poor technological advancement within the continent, as reasons for their assertions.

Within two decades, the continent has proved its critics wrong once again and has become a formidable force in the global fintech space. The rise of fintech in Africa has disrupted traditional financial services and provided new opportunities for consumers and businesses alike. Fintech companies have grown rapidly in Africa in recent years, with South Africa, Kenya, Nigeria, and Ghana leading the charge.

One of the challenges highlighted by critics was the lacuna between the number of banked and unbanked populations in Africa – owing to an evident gap in infrastructure across the continent. Despite the challenges, mobile money platforms have been a game-changer in the fintech space across Africa. M-Pesa in Kenya paved the way, showing how technology can bring financial services to rural areas, and bridge the gap created by capital infrastructure.

Below, we have given you a peek into the thriving world of fintech startups in Africa, where innovators are rewriting the rules and redefining what's possible. Check out 45 fintech startups that are disrupting the financial landscape in Africa as of 2025, and how much they have received in funding.

45 Fintech Startups Disrupting the Financial Landscape in Africa 2025

Note: This list is in no particuar order

1. Bright On Capital [South Africa]: Bright On Capital is an online lending startup that provides affordable working capital solutions of up to R1 million to small and emerging businesses. Also sometimes referred to as "Bright Money," the startup has raised a total of $62 million in funding, with the latest round backed by Peak XV Capital, allowing them to further expand their services and reach more customers, particularly millennials in the U.S.
2. Awamo 360 [Kenya]: Awamo is a fintech startup that offers a long-awaited solution to the problems of MFIs and their clients. It is a digital, mobile banking platform and credit bureau especially designed for MFIs. To date, the startup has raised a total funding of $3.1 million over 3 rounds from a total of 16 investors.
3. BitFund [South Africa]: BitFund is a cryptocurrency investment startup that allows users to buy, sell, and store cryptocurrencies. The platform also offers crowdfunding tools for developers and investors. The venture capital firm focused on blockchain technology has raised a total of $100 million in investment capital across multiple funding rounds.
4. Causal Nexus [South Africa]: Causal Nexus is a fintech company specializing in developing next-generation payment systems, primarily focused on providing innovative solutions for banks and retailers to enhance their customer experience and generate new revenue streams by utilizing advanced technology and flexible payment infrastructure. To date, the startup has raised $10 million in investment, with the funding round led by Sequoia Capital India and participation from other investors like Beenext and India Quotient.
5. Chipper Cash [Ghana]: Founded in 2017, Chipper Cash is currently the largest mobile cross-border money transfer platform in Africa. The app allows users to send and receive money between countries, including Nigeria, Kenya, South Africa, Ghana, Uganda, Rwanda, Tanzania, and the United States. Its founders have collectively raised $337 million across 6 rounds of funding from notable investors like the now-defunct crypto exchange FTX, Ribbit Capital, Bezos Expeditions, SVB Capital and many others.
6. PayGate [South Africa]: PayGate is a South African fintech startup specializing in online payment gateway services, allowing businesses to securely process credit card transactions and other alternative online payment methods across multiple countries. At the time of writing this article, there are no records of the total amount of funding PayGate has received in investment.
7. Lami [Kenya]: Lami Fintech is a Kenyan startup that provides a digital insurance platform and API, allowing businesses across various sectors to easily offer tailored insurance products to their users through a seamless online experience. According to its 2025 PitchBook, the Kenya-based startup has raised a total of $5.75 million in seed extension to expand its insurtech product across Africa.
8. CrowdInvest [South Africa]: CrowdInvest allows individuals to invest small amounts of money in startups or other businesses through a "crowd" of investors, essentially enabling equity crowdfunding where a large group of people can participate in an investment opportunity, often with smaller capital contributions than traditional investment methods. According to publicly available information, CrowdInvest Fintech has raised a total of $1.5 million in investment, with the latest funding round occurring in 2021.
9. Pezesha [Kenya]: Founded in 2017, Pezesha is a fintech startup aiming to close the fiscal deficit gap that has long hampered MSMEs' growth across Africa. The company operates a scalable digital lending infrastructure designed to enable MSMEs to obtain capital from both traditional and non-traditional financial institutions. Pezesha fintech has raised $11 million in a pre-Series A funding round.
10. Nala [Tanzania]: Nala is a fintech startup revolutionizing cross-border transactions in Africa. It was founded in 2017 and the startup seeks to increase economic opportunities for Africans by creating systems that support fast, reliable, and affordable cross-border payments. As of July 2024, Nala Fintech has raised $40 million in a Series A funding round, considered one of the largest Series A rounds for an African fintech company.
11. WayaWaya [Kenya]: The fintech startup utilizes artificial intelligence and machine learning to promote financial inclusion and deploy comprehensive payment solutions for Africans. Founded in 2016, the startup runs a consolidated fintech platform designed to enable users to conduct instant cross-border transactions. According to its 2024 Pitchbook, the fintech startup raised $50,000 from Afrinet Capital and Meltwater Entrepreneurial School of Technology.
12. Kwara [Kenya]: Founded in 2018, the Kenyan neobank startup has been helping credit unions conduct and manage their operations more efficiently. The company provides solutions to enable savings and credit cooperative societies (Saccos) to digitize their services. Kwara’s solutions are designed to upgrade credit unions into modern digital banks. The company's digital banking platform features an open API that enables credit unions to digitize their operations as formal financial institutions. Kwara fintech has raised a total of $7 million in investment, including a $3 million seed extension round, bringing their total seed funding to that amount.
13. LipaLater [Kenya]: Founded in 2018, LipaLater is a leading fintech services provider enabling financial inclusion for e-commerce users and retail shoppers in Africa. The company offers point-of-sale financing for businesses and users to help them purchase items that they can't afford at the point of sale. According to recent reports, LipaLater has raised $3.4 million in debt funding through a privately placed debt issuance.
14. Payday [Rwanda]: Payday is a neobank with a fintech infrastructure founded in 2021 that enables users in Africa to send and receive money both globally and locally at zero charge rate. Payday’s platform facilitates cash transfers, bill payments, virtual card services, and foreign bank accounts. Payday's solution is aimed at helping Africans avoid payment roadblocks they often experience with traditional banks when making cross-border international payments. The startup has raised $3 million in seed funding.
15. ClickPesa [Tanzania]: ClickPesa is a Fintech startup founded in 2016 that provides digital business tools and payment services for SMEs in Africa. Its virtual solution enables cross-border money transfers and bulk remittances for organizations and individuals across the continent. They connect with bank accounts and existing mobile wallets to enable seamless payments. It also offers e-invoice, and payout services to users. ClickPesa has raised a total of $10 million in investment across multiple funding rounds, with the most recent round being a Series A raise in 2019.
16. Xente Tech [Uganda]: Founded in 2014, Xente is a fintech startup solving corporate banking challenges for businesses in Africa. Xente operates a digital platform where companies can access financial and technical services such as payment and finance operations automation. Aside from creating accounts, Xente’s software also lets clients obtain corporate visa cards, and access mobile money functionalities, as well as credit and expense management, all in one solution. They have raised over $110,000 in funding across multiple rounds, with the latest being a grant-based investment.
17. Imalipay [Kenya]: Imalipay is a fintech startup founded in 2020 empowering companies in Africa with tools to succeed in local and global markets. The company operates Phoenix, a comprehensive API platform that offers several financial options for users. The primary products on the platform include money savings wallets, a payments system, auto-reconciliation for businesses, loan management, and a Fintech-as-a-Service functionality that enables businesses to seamlessly set up their financial offerings in a matter of days or weeks. The startup has raised a total of $3 million in a seed funding round, which included both loan and equity components.
18. Asilimia [Kenya]: Asilimia is a fintech startup that enables micro businesses in Africa to digitize their operations. Asilimia operates a digital platform also called Leja that offers three primary services to users including bookkeeping, payment system integration, and credit management. Asilimia also offers business loans to help businesses grow. The startup has raised $2 million in pre-seed funding.
19. Flexpay [Kenya]: Founded in 2015, Flexpay is a financial inclusion enabler helping organizations offer flexible payment solutions to their customers. The company assists businesses to make their products more accessible and empowers customers to get the things they need without necessarily paying a huge upfront cost. The startup has raised a total of $785,000 in investments, backed by investors like Acacia Group, LoftyInc, Expert Dojo, Google Black Founders Fund, and Renew Capital.
20. Numida [Uganda]: Founded in 2016, Numida is a credit financier helping micro businesses in Africa to grow and scale their operations. The company was created to address the prohibitive loan challenges faced by microbusinesses in Kenya. So, it enables users to access unsecured debt funding up to $5,000 simply by downloading its digital app. All loans are facilitated and disbursed via the company’s platform and borrowers get the money via mobile payments. The startup raised a total of $12.3 million in investment during a pre-Series A funding round led by Serena Ventures; this includes both equity and debt financing, bringing their total funds raised to approximately $14.6 million.
21. Airbuy [South Africa]: Airbuy is a fintech company that provides an alternative online payment solution, particularly focused on African markets, allowing users to make online purchases without needing a traditional bank card or sharing sensitive banking details, making it accessible to individuals without full banking access. The fintech startup has raised $14,900 in seed funding.
22. Lipa Payments [Kenya]: Lipa Payments is a fintech startup that provides payment software solutions for customers. Lipa Payments' software allows merchants to accept digital payments using Near Field Communication (NFC) and Bluetooth Low Energy (BLE) technology. The Kenyan fintech company has raised a total of $10 million in investment across multiple funding rounds.
23. Luno [South Africa]: Luno is a cryptocurrency exchange and investment fintech startup that allows users to buy, sell, and store cryptocurrencies. Luno also has an investment arm called Luno Expeditions that invests in fintech startups. According to available information, Luno fintech has raised a total of $13.8 million in investments.
24. Lulalend [South Africa]: Lulalend is a South African fintech startup that primarily focuses on providing digital lending services, particularly to small and medium-sized enterprises (SMEs), essentially acting as an online platform for business loans with a focus on quick access to funding through technology-driven processes; they are considered a key player in the African fintech space. The startup has raised $35 million in investment through a Series B funding round.
25. Inclusivity Solutions [South Africa]: Inclusivity Solutions is a fintech startup focused on developing and delivering digital insurance products that aim to provide financial inclusion by making insurance accessible to underserved populations in emerging markets, particularly in Africa. As of November 2023, Inclusivity Solutions has raised approximately $4.5 million in investment, with the most recent round being a $1.5 million Series A extension led by Goodwell Investments.
26. Mono [Nigeria]: Founded by Abdul Hassan, Mono is an open banking platform facilitating secure access to customers' financial accounts for financial data, direct bank payments, and identity verification. According to the information available, Mono has raised a total of $17.6 million in investment across multiple funding rounds.
27. Octobase [South Africa]: Octobase is a fintech startup that leverages blockchain technology to develop solutions focused on secure, intelligent smart wallet security, essentially using decentralized software and governance structures to address real-world financial problems within the fintech space. There are no records of how much the Nigerian startup has raised to date.
28. Nifty Credit [South Africa]: NiftyCredit is a South African startup that provides customers with insurance coverage to financially protect themselves and their loved ones for the future. They also support and grow local businesses by giving people access to the things they want and need. There is currently not enough data on the total amount of funding that the startup has received in funding.
29. Okra Inc [Nigeria]: Okra is a Nigerian fintech startup that provides an "Open Finance API" which allows businesses and developers to access customer financial data from banks and other financial institutions across Africa, essentially acting as a bridge between users, businesses, and financial institutions by enabling seamless connection of bank accounts to various applications and services through a single integration. According to available information, Okra Inc. has raised a total of $16.5 million in funding.
30. OPay [Nigeria]: OPay is a mobile money Nigerian fintech startup that provides financial services in Nigeria. It's one of the most downloaded fintech apps in Nigeria. It allows users to send and receive money, pay bills, and purchase airtime. The Nigerian fintech startup has raised a total of $570 million in investment over three rounds. This includes; Series A: $50,000 in July 2019, Series B: $120 million in November 2019, and Series C: $400 million in August 2021.
31. Paymenow [South Africa]: Paymenow is a fintech company that provides a platform allowing employees to access a portion of their earned wages before payday, essentially giving them early access to their income, which is designed to promote financial wellness and reduce reliance on predatory lenders. South African fintech startup, raised $231,000 in its seed funding round, with the investment led by ViaMedia, part of the Digital Ecosystems Group.
32. Paymob [Egypt]: Paymob is a fintech company based in Egypt that provides a comprehensive payment gateway platform, enabling businesses to accept online and offline payments across multiple countries in the Middle East and North Africa (MENA) region, primarily through mobile wallet technology; essentially acting as an infrastructure enabler for digital financial services in the area. As of the latest information, Paymob, an Egyptian fintech company, has raised a total of $72 million in investment through its Series B funding round, including a $22 million extension, bringing the total Series B amount to $72 million.
33. Pineapple [South Africa]: Pineapple is a South African fintech startup that provides online insurance services. It's a peer-to-peer insurer that offers a variety of insurance products, including property, liability, car, and per-item insurance. The startup has raised $22 million in a Series B round, making it the most capitalized insurtech startup in Africa.
34. Pula [Kenya]: Pula is an insurance and technology fintech startup that provides agricultural insurance and digital products to smallholder farmers. Pula's goal is to help customers improve their practices, increase their incomes, and build resilience to challenges. Pula fintech has raised $20 million in Series B funding to expand its agricultural insurance offerings across emerging markets, primarily focusing on smallholder farmers in Africa.
35. SmartAdvance [South Africa]: SmartAdvance is a fintech startup specializing in providing online, accessible credit solutions, primarily focusing on payroll loans, where borrowers can access funds directly through deductions from their salaries, utilizing technology to streamline the application and loan process for consumers, often targeting individuals with limited credit history; it operates in South Africa, Eswatini, and Namibia with a brand called "Nifty" for direct-to-consumer lending. There is not enough data on how much the startup has raised in investment.
36. Jem [South Africa]: Jem is a financial technology startup which utilizes technology to innovate and provide financial services, potentially including features like mobile banking, payment processing, or investment platforms. Jem has raised a total of $46.9 million in seed funding.
37. Moniepoint [Nigeria]: Moniepoint is a Nigerian fintech startup that provides banking services, payments, and business management tools. It's one of Africa's largest financial institutions. The startup has raised $195 million in investment since its founding in 2015. This includes; $110 million in Series C funding: Raised in October 2024, this round was led by Development Partners International (DPI). Other participants included Google's Africa Investment Fund, Verod Capital, and Lightrock. This round tripled Moniepoint's valuation, giving it unicorn status. Strategic investment from Visa: Announced in January 2025, Visa invested over $10 million in Moniepoint.
38. Stitch [South Africa]: Stitch, is a South African fintech startup that provides online payments infrastructure for large enterprises. It acquired ExiPay, a startup that offers in-person payment solutions for retail businesses. As of October 2023, Stitch Fintech has raised a total of $52 million in investment, with the most recent round being a $25 million Series A extension led by Ribbit Capital.
39. VALR [South Africa]: VALR is a cryptocurrency trading platform and fintech services provider (FSP) that connects traditional financial services with digital currencies. According to recent information, VALR, a South African cryptocurrency exchange, has raised a total of $55 million in investment funding.
40. Vollar NPC [South Africa]: Vollar is a fintech startup that helps people help themselves by rewarding them for participating in local volunteer projects where they are able to give back to their community. Volunteers are rewarded with a special kind of digital money called Vollar, which is funded by donors. There is no data supporting how much the startup has raised in seed investment so far.
41. Nomba [Nigeria]: Nomba is a financial technology startup that provides payment and banking services to small and medium-sized businesses (SMEs) in Africa. Nomba's services include point-of-sale (POS) devices, agency banking, and mobile money. The startup has raised $30 million in a pre-Series B funding round. 
42. Zoona [Zambia]: Zoona is a Zambian fintech startup that provides access to financial services like money transfers, savings, and bill payments to underserved communities across the continent, primarily through a network of agents who are often young entrepreneurs, allowing them to operate as small businesses and earn commissions by facilitating transactions for customers with limited access to traditional banking systems. According to PitchBook data, Zoona has raised a total of $24.8 million in investment across various funding rounds.
43. Wirepay [Nigeria]: Wirepay is a fintech company that provides a digital platform for users to send and receive money in multiple currencies across borders, essentially acting as a multi-currency e-wallet with features like virtual cards, allowing for seamless international payments and currency exchange, primarily focused on the African market. According to available information, Wirepay fintech has raised a total of $6 million in investment, which was secured during a seed funding round.
44. Palmpay [Nigeria]: PalmPay is a Nigerian financial startup that provides digital payment services in Nigeria and Ghana. PalmPay's goal is to make digital payments more accessible and flexible for consumers and merchants. According to available information, the Nigerian fintech startup has raised a significant amount of investment, with one recent report stating they secured a $40 million funding round led by TECNO Mobile, a mobile phone brand, to further their expansion in Africa.
45. CASHPLUS [Morocco]: Founded in 2004, the Moroccan fintech startup is on a mission to empower customers for seamless money transfers, currency exchange, and financial services across the country. To date, the startup has received $62 million in funding.

Conclusion

There are many critics who feel that there are too many fintech platforms in the continent, and this may lead to challenges in future. Experts, however, have refuted the claims saying that despite the competition, Africa's fintech market is far from saturated. Millions of people still do not have access to formal financial services and would need fintech to be able to access credit or savings options.

To date, traditional banks often overlook rural areas, leaving a large market for fintech startups. The rise of new technologies like blockchain, artificial intelligence, and open banking also means the industry constantly evolves. These tools can help solve problems in ways that were impossible a few years ago, creating opportunities for fresh ideas.

With this, there is no need in sight for the rise of fintech startups in Africa.

Credit: LBDO Fintech Report 2024, SCRUMS, Startup Graveyard, Startuplist Africa, AU Startups