Fintech Startups in South Africa to Keep an Eye on in the Year 2025
In the vibrant world of fintech, South Africa is witnessing a surge of innovative startups that cater to specific markets with unique payment solutions. Here are four such startups that have made a significant impact in 2025.
First, we have a fintech startup dedicated to the schools market. This startup offers payment solutions tailored to the specific needs of educational institutions, making it easier for them to manage fees and transactions efficiently.
Moving on to the travel sector, TurnStay targets the travel and hospitality industry by providing digital payment solutions, booking management, and financial services customized for hotels, tour operators, and travelers. TurnStay's platform enables secure, instant, cross-border payments and offers analytics to optimize revenue and cash flow. The startup recently secured $2 million in seed funding to scale and expand across Africa, also planning to launch AI-powered tools to enhance booking and payment optimization.
Another startup focuses on informal merchants, providing accessible fintech solutions to streamline payments for small, often underserved vendors in South Africa’s informal economy.
Lastly, a startup caters to small businesses across South Africa, offering tailored payment services to help these enterprises handle financial transactions effectively and grow sustainably.
These startups stand out by concentrating on niche markets with distinct payment pain points rather than competing solely for large valuations. This focused innovation and sector-specific services are critical to South Africa’s diverse fintech ecosystem.
One of the notable startups, Tata-iMali, is a fintech startup building a low-cost blockchain wallet and point-of-sale system for South African merchants. Tata-iMali operates using ZARP, a Rand-backed stablecoin, which enables instant payment settlement. Tata-iMali completed a total fundraising of about $200,000 (R3.61million) in July 2025, with Stefan Thomas (former CTO of Ripple) making up the bulk of the funding round with $150,000 (R2.69 million).
Sticitt, a cashless payments and financial literacy platform, serves over 75,700 users in 841 schools. Sticitt helps schools track who has paid, send reminders, and keep clear records, making financial management much simpler and safer for everyone involved. Sticitt has facilitated transactions exceeding ZAR 6.3 billion (over $340 million).
In the world of small and medium-sized businesses (SMEs), UsPlus helps these businesses get quick access to credit. UsPlus advanced over $130 million (over R2.7 billion) to South African SMEs using invoice discounting or factoring. In January 2025, UsPlus secured $2 million (about R38 million) in funding from the Verdant Capital Hybrid Fund. The funding was structured as junior convertible debentures and is intended to expand UsPlus's working capital solutions for SMEs across South Africa. UsPlus has helped over 700 businesses and supported thousands of jobs.
In the travel sector, TurnStay saves businesses money by lowering payment and booking fees and lets customers pay using familiar methods in their home currency. TurnStay claims it shrinks the cost of international payments by up to 70% for travel businesses. Since inception, TurnStay has processed over R50 million (about $2.7 million) in transaction value. In August 2025, TurnStay raised $2 million (R34 million) in a seed round led by First Circle Capital.
With over 140 fintech startups, South Africa is home to a thriving fintech ecosystem. Around 30% of these startups focus on payments and money transfers. These startups are not only transforming the financial landscape of South Africa but also contributing to the growth of the African fintech industry as a whole.
- In the vibrant fintech industry, South African startups like the one dedicated to the schools market are offering unique payment solutions, catering to specific niches such as educational institutions.
- TurnStay, a fintech startup targeting the travel and hospitality industry, provides digital payment solutions, optimizing revenue and cash flow for businesses through its platform.
- Another South African startup, catering to informal merchants, offers accessible fintech solutions, streamlining payments for small vendors in the country's informal economy.
- Tata-iMali, a notable fintech startup, operates using ZARP, a Rand-backed stablecoin, to provide low-cost blockchain wallets and point-of-sale systems for South African merchants.
- Sticitt, a cashless payments and financial literacy platform, empowers over 75,000 school users by simplifying and securing their financial management processes.
- UsPlus, a fintech startup focused on small and medium-sized businesses, provides quick access to credit, having advanced over $130 million to South African SMEs through invoice discounting or factoring, and raised $2 million in funding from the Verdant Capital Hybrid Fund in January 2025.
