South African fintech Street Wallet, has acquired Digitip, a local startup, for an undisclosed amount. Street Wallet’s acquisition of Digitip marks a significant step in reshaping digital payments for South Africa’s economy.
Street Wallet founder and CEO, Kosta Scholiadis described the acquisition as part of a broader strategy to transform digital payments in Africa’s informal sector.
“Together, we are setting a new standard for digital payments in the informal sector,” Scholiadis said.
The team says Street Wallet’s acquisition of Digitip signals a movement to provide faster payouts, lower transaction fees, and inclusive financial tools that benefit millions of informal workers often excluded from traditional banking systems.
What You Should Know
As part of the transition, Street Wallet founder, Scholiadis and CFO Stephen Britto will lead Digitip, while Digitip founder Monica Nilsen will shift focus to trader engagement.
Nilsen will continue supporting both existing Digitip users and incoming Street Wallet customers, ensuring continuity of service.
Digitip’s full team will remain intact under the new structure, and its users will gain access to Street Wallet’s upgraded infrastructure, including faster payouts, lower transaction fees, and daily eWallet disbursements via ABSA CashSend.
“This is a game-changer for our community,” said Nilsen. “We are unlocking more earnings and a smoother experience for informal workers.”
What This Means
Street Wallet’s acquisition of Digitip comes amid a wave of fintech consolidation in South Africa. In August 2025, Nedbank acquired iKhokha for R1.65 billion ($93 million) to strengthen digital services for SMEs.
Earlier in the year, Stitch acquired Efficacy Payments and ExitPay, expanding its card-acquiring capabilities and infrastructure stack. In October 2024, Lesaka Technologies completed the $96 million purchase of Adumo, further cementing its role in regional payment services.
Industry analysts note that such consolidation reflects both competition and opportunity in South Africa’s evolving digital payments space, especially as financial inclusion becomes a national priority.
According to experts, Street Wallet has positioned the acquisition as a bold step toward embedding informal workers into the digital financial ecosystem.
Vision for Informal Sector Inclusion
Street Wallet argues that consolidating Digitip allows it to provide scalable, low-cost tools designed specifically for micro-merchants and tip-based earners.
“Our goal is to simplify transactions and drive financial inclusion,” said Britto. “We are building bespoke fee structures that make it easier for traders to join the banking ecosystem.”
Street Wallet recently secured R6.2 million ($350,000) in funding, raising its valuation above R34 million ($2 million). The fresh capital, combined with the Digitip deal, will fuel expansion into underserved communities where cash remains dominant.
With millions of South Africans working outside the formal banking system, analysts say Street Wallet’s acquisition of Digitip underscores a wider industry race to bridge the gap between cash-based commerce and the digital economy.
Talking Points
It is significant that Street Wallet has acquired Digitip, as it highlights the growing push to digitise payments for South Africa’s informal economy; a sector that employs millions but remains underbanked.
By integrating Digitip’s tipping platform with Street Wallet’s infrastructure, informal workers such as street vendors, service providers, and tip-based earners now gain access to faster payouts, lower transaction fees, and daily disbursements.
This directly addresses long-standing challenges around liquidity and access to cash flow.
At Techparley, we see how deals like this demonstrate the strategic importance of fintech consolidation in South Africa.
With the right support, this acquisition has the potential not just to simplify transactions, but to shift the perception of informal workers as being outside the financial system; positioning them instead as active participants in South Africa’s digital economy.
