Fintech startups in Africa are rewriting the rules of finance. As traditional systems struggle to address the continent’s cross-border trade complexity, and currency fragmentation, these startups are filling the void with innovation built for African realities.
From Lagos to Nairobi, Cape Town to Kampala, a new class of fintech pioneers is laying the infrastructure for digital payments, lending, remittances, and neobanking.
Here, Techparley breaks down some of the fintech startups in Africa reshaping how money moves, how businesses grow, and how Africans connect financially across borders in 2025.
Chipper Cash
Chipper Cash offers no-fee personal payments across 10+ African countries, making it one of the most widely used fintech startups in Africa. The platform supports mobile money, bank transfers, and even crypto trading. With offices across Africa, it serves both local users and the diaspora looking to send money home affordably.
Beyond its consumer wallet, Chipper is increasingly moving into merchant payments and virtual card issuance. As cross-border commerce accelerates, Chipper Cash remains a crucial solution for informal trade and remittances.
Monirates
Monirates is becoming one of the key fintech startups in Africa, offering seamless, real-time cross-border money transfers in local currencies. Founded in 2022 by Nnenna Nkata, the platform allows individuals and businesses to move money across countries like Nigeria, Ghana, and Uganda, without touching U.S. dollars or navigating black-market FX rates.
Unlike many competitors that depend on third-party APIs, Monirates built its system entirely in-house. Its direct currency conversion engine, combined with high-speed settlements and regulatory compliance, has attracted SMEs, schools, logistics firms, and global B2B platforms. As the company adds corridors and stablecoin functionality, it’s positioning itself as a core utility for Africa’s future financial system.
Eversend
Eversend is a digital banking alternative offering multi-currency wallets, virtual cards, and insurance. Focused on Africans at home and abroad, the platform supports cross-border money transfers, bill payments, and even savings plans within a single mobile app. It’s one of the most user-friendly neobank solutions on the market.
With plans to expand into Zambia, Rwanda, and Francophone West Africa, Eversend is becoming the go-to platform for everyday finance. As more users seek alternatives to expensive banks, Eversend is proving that fintech can be inclusive without being complicated.
TymeBank
TymeBank is a digital-only bank offering no-monthly-fee accounts, savings tools, and access to credit, all through mobile phones and a national network of retail kiosks. With over 7 million customers, it’s one of the fastest-growing banks in Africa.
The company is also scaling outside South Africa, with a strategic expansion into the Philippines and interest in other frontier markets. TymeBank is a shining example of how fintech startups in Africa can scale banking for the underbanked without heavy infrastructure costs.
Flutterwave
Flutterwave enables businesses to accept, process, and disburse payments across multiple channels using a single API. Flutterwave’s platform is trusted by local SMEs and global brands like Uber and Microsoft, making it a default gateway for digital commerce on the continent.
Flutterwave’s partnerships with PayPal, Shopify, and other international platforms are helping African merchants connect with global markets. As one of the most valuable fintech startups in Africa, Flutterwave is now as much a tech enabler as it is a payments giant.
M-Pesa
M-Pesa revolutionised Africa’s financial inclusion story. The mobile money platform has grown to serve over 50 million users, primarily in East Africa. With just a feature phone, users can save, borrow, pay, and send money anywhere in the country, without a bank account.
M-Pesa is also rolling out new products like micro-insurance and digital credit scoring, expanding to Ethiopia, and enabling API access for developers. It remains one of the most resilient and inclusive fintech startups in Africa, especially in rural areas where traditional banks have little reach.
Yellow Card
Yellow Card is leading the charge in digital currency accessibility. Operating in over 20 African countries, it offers simple and compliant crypto buying, selling, and storage, primarily for Bitcoin and stablecoins. It’s often the first crypto experience for users in countries like Zambia, Cameroon, and Malawi.
Yellow Card is also using stablecoin adoption to help Africans hedge against inflation and currency volatility. With a strong regulatory stance and deep market knowledge, it’s one of the most practical and scalable crypto-focused fintech startups in Africa.
Selcom
Selcom is Tanzania’s biggest payments company, operating for over 23 years with a deep network of agents, merchants, and integrations. In 2024, Selcom acquired a bank and launched Selcom Pesa, the country’s first neobank pilot, bringing mobile-first financial services to a new generation of users.
Selcom powers payouts for major international apps like LemFi and connects nearly every financial service provider in Tanzania. With end-to-end infrastructure, it’s a quiet giant helping the rest of the world access Tanzania’s growing digital economy.
Onafriq
Onafriq is building the backbone of pan-African payments. The company connects over 500 million mobile wallets through a single API, making cross-border remittances and merchant payments easier and cheaper. Formerly known as MFS Africa, Onafriq has partnered with telecoms, banks, and fintechs to enable universal financial access.
In 2025, Onafriq is expanding its embedded finance tools, letting platforms offer credit, insurance, and savings through its infrastructure. As a payment layer under other services, Onafriq is powering transactions from behind the scenes—yet remains indispensable to Africa’s fintech boom.
Cellulant
Cellulant is a pioneer in digital payments across Africa, offering end-to-end solutions for governments, banks, and enterprises. It operates in more than 35 countries, serving millions of users with payment gateways, agricultural subsidies, and mobile wallets.
Its flagship platform, Tingg, allows merchants to accept payments from over 200 different methods. Cellulant continues to bridge the digital and physical economy by offering reliable infrastructure for mobile money, utility payments, and financial services across fragmented systems.
FAQs About Fintech Startups in Africa
What are fintech startups?
Fintech startups are companies using technology to improve or deliver financial services across the continent, including payments, lending, insurance, and banking.
Why are fintech startups important in Africa?
They bridge gaps left by traditional banks, expand financial inclusion, and support local and cross-border transactions in underserved markets.
How do fintech startups in Africa handle cross-border payments?
They use local currency rails, stablecoins, and in-house infrastructure to bypass expensive dollar conversions and settlement delays.
Are fintech startups in Africa safe to use?
Many top fintech startups follow strict compliance protocols, KYC rules, and are licensed by central banks to ensure user safety.
How can I invest in fintech startups in Africa?
You can invest through African-focused VC funds, angel networks, or startup accelerator programmes targeting the fintech sector.
