About FinTech sector in Zimbabwe
The FinTech sector in Zimbabwe comprises 83 companies, including 6 funded companies having collectively raised $20K in venture capital money and private equity. Out of these, 1 is Series A+ funded.
FinTech sector in Zimbabwe has seen 1 acquisition.
This sector includes companies offering 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 Zimbabwe
There are 83 FinTech startups in Zimbabwe which include HiMoney, EcoCash, MyCash, Sasai, Nurture. Out of these, 6 startups are funded, with 1 having secured Series A+ funding.
Over the past 10 years, an average of 4 new companies have been launched annually.
Here is the list of top FinTech startups in Zimbabwe
1. HiMoney
Platform offering lending solutions. It is a platform that provides financing and loan solutions to individuals.
Key facts about HiMoney
- Founded Year: 2013
- Location: Zimbabwe
- Stage: Unfunded
- Tracxn Score: 46/100 What is this?
- Competitors Rank: 95 of 2,459 Competitors
_1556880149917.png?format=webp&height=120&width=120){kind=logo}
2. EcoCash
App-based platform for mobile payment solutions. The business provides a payment option that enables clients to do financial transactions directly from their smartphones. It enables users to pay for goods and services, sends money to loved ones, purchase airtime, and do much more.
Key facts about EcoCash
- Founded Year: 2011
- Location: Harare (Zimbabwe)
- Stage: Unfunded
- Tracxn Score: 41/100 What is this?
- Competitors Rank: 1 of 2 Competitors
_1575884478391.png?format=webp&height=120&width=120){kind=logo}
3. MyCash
MyCash offers a card-linked wallet to consumers. It offers services such as airtime recharge, money transfer, and bill payments. It also offers payroll services to businesses. It also offers a prepaid card that can be recharged through the wallet.
Key facts about MyCash
- Founded Year: 2014
- Location: Harare (Zimbabwe)
- Stage: Unfunded
- Tracxn Score: 38/100 What is this?
- Competitors Rank: 2 of 7 Competitors
4. Sasai
Sasai provides a wallet for consumer payments. It provides various services including money transfers, bill payments, chat portal, payments splitting, music streaming and more. It facilitates payments via credit/debit cards and bank transfers. It can be accessed through the app that is available on Android and iOS devices.
Key facts about Sasai
- Founded Year: 2019
- Location: Harare (Zimbabwe)
- Stage: Unfunded
- Tracxn Score: 36/100 What is this?
- Competitors Rank: 470 of 3,080 Competitors
5. Nurture
Key facts about Nurture
- Founded Year: 2011
- Location: Harare (Zimbabwe)
- Stage: Unfunded
- Tracxn Score: 31/100 What is this?
- Competitors Rank: 16 of 71 Competitors
Companies founded year-on-year in the FinTech sector in Zimbabwe
10 FinTech startups in Zimbabwe were founded in 2019 - 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 | - |
2025 | - |
2024 | 2 |
2023 | 3 |
2022 | 6 |
2021 | 7 |
2020 | 7 |
2019 | 10 |
2018 | 6 |
2017 | 4 |
Let us walk you through our Sectors and other offerings
Designed with precision for VCs, PE, IBs, Incubators, M&A, Innovation more
Designed with precision for VCs, PE, IBs, Incubators, M&A, Innovation more
Funding Trends in the FinTech sector in Zimbabwe
Recent Funding Rounds in FinTech in Zimbabwe
In the year 2023, till June 2023, FinTech companies in Zimbabwe have raised $20K in equity funding across 2 rounds.
Here are some recent, important funding rounds in FinTech companies in Zimbabwe:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 1099 | 2023 | ||
Seed | 8710 | Jan 04, 2023 | ||
Seed | 5267 | Sep 2017 | ||
Angel | 7014 | Dec 27, 2016 |
_1523512445630.png?devicePixelRatio=2&height=20&width=20){kind=logo}
Top Investors in FinTech in Zimbabwe
Taurai Chinyamakobvu is the top investor in FinTech companies in Zimbabwe based on number of companies invested.
Here are some top investors in FinTech companies in Zimbabwe:
Investor | Location | Top Portfolio Companies |
|---|---|---|
- | ||
Gaborone (Botswana) | - | |
Harare (Zimbabwe) | ||
Harare (Zimbabwe) | ||
Harare (Zimbabwe) |
M&A activity in FinTech sector in Zimbabwe
In the year 2016, till June 2016, 1 acquisition happened in FinTech sector in Zimbabwe.
Here are some recent, important acquisitions in FinTech sector in Zimbabwe:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Acqui-Hired | Jun 03, 2016 |
Top News in FinTech in Zimbabwe
•
EcoCash ends loss making as profit soars in H1Telecompaper•Nov 14, 2023•EcoCash, Econet Wireless Zimbabwe
•
EcoCash partners PayPal's Xoom for international remittancesTelecompaper•Jun 29, 2022•EcoCash, Xoom, Thunes, PayPal
•
EZ-Link Partners With Mastercard for Greater Digital Payments CapabilitiesFinTechnews•Apr 29, 2022•EZ-Link, Mastercard, Zimswitch
•
OCBC customers to get alerts for all PayNow, FAST transfer transactionsThe Business Times•Jan 21, 2022•OCBC Bank, Paynow, fast.com
•
Singaporean Digital Assets Trading Platform Sparrow to Accept PayNow TransfersCrowdfund Insider•Nov 25, 2021•Paynow, Sparrow Exchange
•
BancABC partners Mastercard and Zimswitch to Revolutionise Digital Payment in ZimbabweInnovation-village•Oct 22, 2021•BancABC, Mastercard, Zimswitch
•
A Partnership Between Mastercard and Zimswitch for Zimbabwe’s Payments Sector TransformationTech In Africa•Jan 09, 2021•Mastercard, Zimswitch
