When was NET1 founded?

NET1 was founded in 1989 and raised its 1st funding round 17 years after it was founded.

Where is NET1 located?

NET1 is headquartered in Johannesburg, South Africa.

How many employees does NET1 have?

As of May 31, 2026, the latest employee count at NET1 is 452.

Is NET1 a funded company?

NET1 is a funded company, having raised an undisclosed amount across 2 funding rounds to date. The company's 1st funding round was a $***** Post IPO round, raised on Jun 30, 2006.

When was the latest funding round of NET1?

NET1's latest funding was a $***** Post IPO round on Apr 11, 2016, with participation from 1 investor. Its primary sector is Payments. In South Africa, the Payments sector has seen $11.6M in funding in 2026 to date.

Where does NET1 rank among its competitors?

NET1 ranks 15th amongst 102 active competitors, of which 10 are funded. It stands 11th in terms of total funding among its competitors. The most recent competitor to raise funding was Flutterwave, which secured an undisclosed amount in Jun, 2026.

Who are the top competitors of NET1?

NET1's top competitors include PayU, Flutterwave and ACI Worldwide. Among them, Flutterwave secured the most recent funding round in June, 2026.

NET1 - 2026 Company Profile, Funding & Competitors

NET1 is a late stage company based in Johannesburg (South Africa), founded in 1989. It operates as a Payment processing solution for businesses.. NET1 has raised an undisclosed amount in funding. The company has 102 active competitors, including 10 funded and 23 that have exited. Its top competitors include companies like PayU, Flutterwave and ACI Worldwide.

Company Details

Net1 provides a payment processing solution for businesses. Through the supply of chip card technologies and systems such as the Universal Electronic Payment System, Net1 provides alternative payment solutions for populations in developing economies that have limited access to traditional banking facilities. The transaction is decentralized as all the smart cards contain the necessary info for card-to-card transactions. Also provides a virtual card for mobile devices. Its transaction management solutions enable merchants to accept EFT/non-EFT transactions through multiple platforms.

Website: net1.com
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Key Metrics

Founded Year

1989

Location

Johannesburg, South Africa

Stage

Late Stage

Latest Funding Round

Post IPO, Apr 11, 2016, $*****

Investors

IFC Asset Management Company & 2 more

Ranked

15^th among 102 active competitors

Employee Count

452 as on May 31, 2026

Investment & Acquisitions

Connect & 7 more

Similar Companies

Stripe & 3309 more

View NET1's full profile

NET1 has raised funding over 2 rounds. Its first funding round was on Jun 30, 2006. Its latest funding round was a Post IPO round on Apr 11, 2016 for $*****. 1 investor participated in its latest round. NET1 has 3 institutional investors.

Here is the list of recent funding rounds of NET1:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Apr 11, 2016	8598004	Post IPO	1694566	2106685	3460755	2283734
Jun 30, 2006	8992839	Post IPO	5959405	8700223	9781019	General Atlantic

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View details of NET1's funding rounds and investors

NET1's employee count trend

NET1 has 452 employees as of May 26. Here is NET1's employee count trend over the years:

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Top competitors of NET1 include PayU, Flutterwave and ACI Worldwide. Here is the list of Top 10 competitors of NET1, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	PayU 2002, Amsterdam (Netherlands), Series C	Provider of online payment solutions and financial services for businesses	$35.1M	Naspers, PROSPER & 5 others	84/100
2nd	Flutterwave 2016, San Francisco (United States), Series E	Provider of payment solutions for online and physical business transactions	$489M	Greycroft, Tiger Global Management & 72 others	83/100
3rd	ACI Worldwide 1975, Omaha (United States), Public	Process and manage digital payments	-	Starboard Value, JMI Management & 3 others	74/100
4th	Network International 1994, Dubai (United Arab Emirates), Acquired	Provides digital payment solutions and merchant services, catering to businesses with fintech support	$539M	General Atlantic, Warburg Pincus & 3 others	72/100
5th	First Data 1971, Atlanta (United States), Acquired	Payments processing service provider	-	HarbourVest Partners, W Capital Partners & 4 others	63/100
6th	Worldline 1972, Paris (France), Public	Provider of payment processing solutions for merchants and financial institutions	-	Credit Agricole, Europa	61/100
7th	Equiniti 2002, Lancing (United Kingdom), Acquired	Provider of financial technology and payment processing solutions	-	Strategic Equity Capital, Riverside	60/100
8th	Adumo 2019, Sandton (South Africa), Acquired	Provider of payment solutions, card machines, and customer engagement platforms	$25.9M	IFC Asset Management Company, Investec & 3 others	60/100
9th	Peach Payments 2013, Cape Town (South Africa), Series A	Payment gateway solutions for businesses and merchants	$32M	Umkhathi Wethu, Allan Gray & 5 others	58/100
10th	UnionPay Intl 2012, Shanghai (China), Funding Raised	Operator of payment network facilitating card and mobile-based transactions	-	SAIF Partners, China Merchants Capital & 11 others	57/100
15th	NET1 1989, Johannesburg (South Africa), Late Stage	Payment processing solution for businesses.	-	IFC Asset Management Company, General Atlantic ... & 1 others	44/100

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NET1 has made 6 investments in companies including Carbon and MobiKwik. NET1 has also acquired 2 companies including Connect and Bank Frick.

Here is the list of investments & acquisitions:

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Date of Investment/Acquisition	Type	Company Name	Founded Year	Location
Nov 01, 2021	Acquisition	Connect	2006	Sandton (South Africa)
2020	Investments	Carbon	2012	Lagos (Nigeria)
Oct 08, 2019	Acquisition	Bank Frick	1998	Balzers (Liechtenstein)