About FinTech sector in South Africa
The FinTech sector in South Africa comprises 1.64K companies, including 243 funded companies having collectively raised $2.1B in venture capital money and private equity. Out of these, 119 are Series A+ funded, and 1 has achieved unicorn status.
FinTech sector in South Africa has seen 64 acquisitions and 19 IPOs. This represents almost 5.1% of all such companies - which is higher than the 4.3% exit rate of tech companies in general.
This sector includes companies providing tech-enabled financial services and IT infrastructure and software for offering and managing financial services.
FinTech sector is also known as BFSI Tech.
Companies providing tech solutions to provide financial services like lending, banking, fundraising, insurance, etc are included in this sector. Companies offering traditional financial services like Banks, NBFCs, Insurance Carriers, etc are excluded.
Top FinTech Companies in South Africa
There are 1,635 FinTech startups in South Africa which include Yoco, VALR, TymeBank, Stitch, Naked. Out of these, 243 startups are funded, with 119 having secured Series A+ funding, and 1 achieving unicorn status.
2026 has seen the creation of 17 FinTech startups in South Africa. Over the past 10 years, an average of 74 new companies have been launched annually. Notably, several of these startups have been founded by alumni of Harvard Business School, University of California (Berkeley) and University of Cambridge.
Here is the list of top FinTech startups in South Africa
1. Yoco
Provider of point-of-sale systems, card machines, and online payment solutions. The company offers tools for businesses to grow revenue and save time. Its products include card machines, point-of-sale systems, and online payment processing. It serves various industries, including food and beverage, retail, health and beauty, and services.
Key facts about Yoco
- Founded Year: 2015
- Location: Cape Town (South Africa)
- Stage: Series C
- Total Funding till date: $107M
- Investors: Velocity Capital Fintech Ventures, Quona and 22 Others
- Latest Funding Round: Series C, Jul 27, 2021, $*****
- Tracxn Score: 73/100 What is this?
- Competitors Rank: 2 of 592 Competitors
2. VALR
App-based platform for cryptocurrency trading. It uses AI and machine learning technology to validate the identity of the trader. It allows users to securely buy, store and sell cryptocurrencies.
Key facts about VALR
- Founded Year: 2018
- Location: Johannesburg (South Africa)
- Stage: Series B
- Total Funding till date: $55M
- Investors: Pantera Capital, 4Di Capital and 13 Others
- Latest Funding Round: Series B, Mar 01, 2022, $*****
- Tracxn Score: 72/100 What is this?
- Competitors Rank: 14 of 5,240 Competitors
3. TymeBank
Provider of the digital bank for individuals. It provides users with a platform where users can open an account online and get a debit card linked to the account. Users earn reward points on making payments via cards. It offers a savings tool GoalSave, that enables users to set up various savings goals.
Key facts about TymeBank
- Founded Year: 2012
- Location: Johannesburg (South Africa)
- Stage: Acquired
- Total Funding till date: $13.3M
- Investors: Ethos Private Equity, Apis Partners and 5 Others
- Latest Funding Round: Series A, 2021, $*****
- Tracxn Score: 70/100 What is this?
- Competitors Rank: 39 of 2,753 Competitors
4. Stitch
Provider of payment infrastructure for online and in-person transaction processing. This platform facilitates payment acceptance through gateways, point of sale terminals, and automated payout systems. It integrates with e-commerce applications to enable various payment methods and provides tools for transaction orchestration, reconciliation, and reporting. The system includes automated fraud detection mechanisms to evaluate transactions and manage payment operations across multiple channels.
Key facts about Stitch
- Founded Year: 2019
- Location: Cape Town (South Africa)
- Stage: Series B
- Total Funding till date: $109M
- Investors: Glynn Capital, QED Investors and 57 Others
- Latest Funding Round: Series B, Mar 25, 2025, $*****
- Tracxn Score: 69/100 What is this?
- Competitors Rank: 39 of 7,895 Competitors
5. Naked
AI-driven app that provides usage-based car insurance. It offers a chatbot for usage-based quotes and prices. It also offers roadside assistance services, claims approval, and more. Its app is available for iOS and Android platforms.
Key facts about Naked
- Founded Year: 2016
- Location: Johannesburg (South Africa)
- Stage: Series B
- Total Funding till date: $69.8M
- Investors: Hollard, Yellowwood and 6 Others
- Latest Funding Round: Series B, Jan 21, 2025, $*****
- Tracxn Score: 66/100 What is this?
- Competitors Rank: 1 of 17 Competitors
Companies founded year-on-year in the FinTech sector in South Africa
17 new startups have been founded so far in 2026 in the FinTech sector in South Africa. 140 FinTech startups in South Africa were founded in 2020 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | 17 |
2025 | 12 |
2024 | 26 |
2023 | 39 |
2022 | 39 |
2021 | 116 |
2020 | 140 |
2019 | 125 |
2018 | 130 |
2017 | 105 |
Stage-wise distribution of FinTech sector companies in South Africa
Out of the total 1,635 FinTech companies in South Africa, 243 have secured funding. Among them, 119 have reached Series A or higher, and 102 to Series B or beyond.
Founded - 1,635
Funded - 243
Series A+ - 119
Series B+ - 102
Series C+ - 89
Company Stage | No. of companies |
|---|---|
Founded | 1,635 |
Funded | 243 |
Series A+ | 119 |
Series B+ | 102 |
Series C+ | 89 |
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Funding Trends in the FinTech sector in South Africa
Total funding year-on-year in the FinTech sector in South Africa
The FinTech sector in South Africa saw a total funding of more than $1.94B in the last 10 years. The most amount of funding was in 2021 at more than $513M. There has been a total funding of $54.2M in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $54.2M |
2025 | $178M |
2024 | $270M |
2023 | $238M |
2022 | $201M |
2021 | $513M |
2020 | $120M |
2019 | $199M |
2018 | $98M |
2017 | $66.3M |
Recent Funding Rounds in FinTech in South Africa
In the year 2026, till June 2026, FinTech companies in South Africa have raised $14M in equity funding across 4 rounds.
In the same period last year (i.e. till June 2025), FinTech companies in South Africa had raised $96M across 8 rounds.
So, 2026 has seen a 85.47% drop in funding in FinTech companies in South Africa as compared to 2025.
Here are some recent, important funding rounds in FinTech companies in South Africa:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 7235 | Jun 03, 2026 | ||
Seed | 4557 | Mar 09, 2026 | and 3 more | |
Seed | 8657 | Mar 09, 2026 | ||
Series A | 8939 | Jan 23, 2026 | ||
Seed | 1829 | Dec 09, 2025 |
Top Investors in FinTech in South Africa
Plug and Play Tech Center is the top investor in FinTech companies in South Africa based on number of companies invested.
Here are some top investors in FinTech companies in South Africa:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Sunnyvale (United States) | - | |
Washington, DC (United States) | ||
Andorra la Vella (Andorra) | - | |
New York City (United States) | ||
Amsterdam (Netherlands) | - |
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M&A activity in FinTech sector in South Africa
In the year 2026, till May 2026, 3 acquisitions happened in FinTech sector in South Africa. Last year, in 2025, a total of 8 acquisitions happened in FinTech sector in South Africa.
Here are some recent, important acquisitions in FinTech sector in South Africa:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | May 07, 2026 | ||
Business Acquisition | Apr 14, 2026 | ||
Business Acquisition | Feb 19, 2026 | - | |
Business Acquisition | Dec 08, 2025 | ||
Business Acquisition | Oct 28, 2025 |
Acquisition trends in FinTech sector in South Africa
Here are the acquisition trends in FinTech sector in South Africa:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | 3 |
2025 | 8 |
2024 | 3 |
2023 | 5 |
2022 | 7 |
2021 | 6 |
2020 | 2 |
2019 | 8 |
2018 | 4 |
2017 | 4 |
IPOs in FinTech in South Africa
In the year 2015, till October 2015, 2 IPOs happened in FinTech sector in South Africa.
Here are some recent, important IPOs in FinTech sector in South Africa:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Oct 16, 2015 | Johannesburg Stock Exchange (JSE) | |
Oct 16, 2015 | Johannesburg Stock Exchange (JSE) | |
Jul 24, 2014 | Johannesburg Stock Exchange (JSE) | |
Apr 05, 2013 | Frankfurt Stock Exchange (FRA) | |
Mar 11, 2011 | Johannesburg Stock Exchange (JSE) |
Colleges which produce the most FinTech companies in South Africa
Companies founded by alumni from top colleges in the FinTech in South Africa
Most number of FinTech startups in South Africa have been founded by alumni from Harvard Business School, University of California (Berkeley) and University of Cambridge.
College | No. of companies |
|---|---|
Harvard Business School | 3 |
University of California (Berkeley) | 2 |
University of Cambridge | 2 |
Yale University | 2 |
Harvard University | 1 |
King’s College London | 1 |
London School of Economics and Political Science | 1 |
Massachusetts Institute of Technology | 1 |
National University of Singapore (NUS) | 1 |
University of Edinburgh | 1 |
Total funding in FinTech companies founded by alumni from top colleges in South Africa
In the last 10 years, Harvard University and Yale University graduates' FinTech companies in South Africa have raised the most funding among top colleges, and University of California (Berkeley) alumni are third.
College | Total Funding |
|---|---|
Harvard University | $109M |
Yale University | $109M |
University of California (Berkeley) | $55M |
Massachusetts Institute of Technology | $48M |
University of Oxford | $822K |
Harvard Business School | - |
King’s College London | - |
London School of Economics and Political Science | - |
National University of Singapore (NUS) | - |
University of Cambridge | - |
Top News in FinTech in South Africa
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TFG partners with PayJustNow for in-store payment flexibilityBizcommunity.com•Mar 25, 2026•PayJustNow, TFG Online
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Ctrack Debuts Next-Gen AI Software Platform for Intelligent Fleet and Asset ManagementFleetworld•Mar 18, 2026•Ctrack
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Mukuru and MoneyGram Partner to Power Fintech-Led Cross - Border Payments Across Africa and BeyondAccess Newswire•Sep 19, 2025•MoneyGram, Mukuru
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South Africa's TurnStay Secures $2M to Expand Across AfricaTechMoran•Aug 11, 2025•TurnStay, First Circle Capital, TLcom
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Orange Money Group and JUMO partner to expand credit services in AfricaWebwire•Jul 28, 2025•Orange, Jumo
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DeSoc Raises Over $10 Million: A Wiser Investment Than Litecoin & Monero?The Coin Republic•Jul 24, 2025•The Monero Project, Litecoin Project
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SA fintechs Float, Adumo partner to offer flexible payments with mainstream retailersDisruptafrica•Jul 07, 2025•Float, Adumo
