Moniepoint, PiggyVest, M-KOPA, Interswitch named among world’s top 300 fintechs by CNBC

Ten African fintechs, including Interswitch, Moniepoint, M-KOPA, OPay, and PiggyVest, have been named among the world’s top 300 fintech companies in 2025 by CNBC and Statista. The list highlights firms driving innovation across seven segments, including payments, wealth tech, and alternative financing amid a global funding slump and increased investor caution.

The inclusion of African startups signals the continent’s rising relevance in global digital finance, particularly in payments. Nigeria led the region’s showing with five companies featured.

Interswitch, Opay, Palmpay, and Moniepoint were named in the payment category, along with Paymob and Yoco from Egypt and South Africa, respectively. Piggyvest is the only Nigerian and African fintech in the wealth technology category.  M-KOPA and Tola were listed in the alternative financing category.

Statista analysed over 2,000 companies globally to compile the list, using key metrics like revenue, growth, and employee headcount. The selection was based on company-submitted data and market research, though CNBC noted the list is unranked.

Here are the African fintechs named in the list.

OPay

Launched in 2018, OPay is among the leading fintechs in Nigeria and has earned acclaim for its super-app that processes seamless mobile payments, transfers, loans, and merchant services. It currently serves over 60 million users, including previously unbanked areas. In 2024, the company’s valuation rose by over 30%, bringing it closer to a $3 billion mark. It was recognised in the payments category with global giants like PayPal for facilitating transactions between people and businesses, both online and in-store.

PalmPay

Launched in 2019, PalmPay has become a household name in Nigeria’s consumer payments space, serving over 35 million users.  The company plans to expand into South Africa, Côte d’Ivoire, Uganda, and Tanzania, after processing over 15 million daily transactions in Q1 2025. PalmPay was one of the six Nigerian startups listed on the Financial Times’ 2024 ranking of Africa’s Fastest-Growing Companies.

Moniepoint

Formerly known as TeamApt, Moniepoint recently gained a $1 billion valuation after raising $110 million from Google, VISA, and other global investors. The Nigerian fintech boasts a full-stack financial platform tailored for people and businesses, combining POS, banking, credit, and cross-border payments. Moniepoint processes more than 1 billion transactions monthly, with a total payment volume of over $22 billion. It was also listed on the Financial Times’ 2024 ranking of Africa’s Fastest-Growing Companies.

PiggyVest

Appearing on CNBC’s list for the second consecutive year, Piggyvest is the only African company recognised in the wealth technology category alongside global giants like the USA’s Lending Tree and Dubai’s GTN. Since its launch in 2016, it has served over 7 million Nigerians and paid out over ₦2 trillion to its users.

“We are excited to share this honour with some of the most innovative businesses in the world,” Somto Ifezue, CEO and Co-founder of Piggyvest, said. “Being included on this list, for a second consecutive year and specifically in the wealth technology category, is a validation of the moves we have made to serve our users better and anticipate their long-term needs.”

Interswitch

Interswitch has been a key player in digital payment since its launch in 2002. It has continued innovating Verve, Africa’s first EMV-verified domestic payments scheme and cross-border financial solutions. With over 85 million cards issued and operations across some African countries, it has contributed to how people move their money across borders. In 2022, it raised $110 million through a joint investment from LeapFrog Investments and Tiana Africa Capital to help it scale digital payment services across the continent.

Paymob

Paymob, an Egyptian fintech company, has empowered over 350 thousand merchants across five countries in the Middle East and North Africa to accept online and offline payments through cards, digital wallets, and QR payments. In 2020, it raised $3.5 million with additional funding from its 2021 Series A, which closed at $18.5 million, to improve its capacity and acquire more merchants to use its payment services. In 2024, it raised $22 million in its series B extension to build fintech infrastructure beyond  Egypt.

Myfawry

MyFawry is a consumer arm of Fawry. It is Egypt’s leading e-payments app that integrates with diverse services from utility bill payments to BNPL offerings. The company recorded a strong performance in 2024, with revenue rising to $121.6 million year-on-year, and net profit jumping to $35.5 million. This growth was driven by the company’s expanded portfolio beyond payments, with banking services contributing nearly 47% of revenue growth. Its retail network also grew to 372,400 POS terminals.

Yoco

Yoco, a South African fintech, delivers affordable POS devices and is trusted by 200,000 South African businesses, enabling card acceptance and sales tracking.  It has secured a total of $107 million across four funding rounds: 1 seed round, 2 early-stage rounds, and 1 late-stage round. Its most significant raise came in July 2021, when it closed a $83 million Series C round, which included some investors, including The Raba Partnership.

M-Kopa

M-Kopa is a leading Kenyan startup that provides access to assets like smartphones and e-bikes through its pay-as-you-go model. It also offers digital loans and bundled services. In 2024, the company announced that it had expanded to five African countries, including Nigeria, Uganda, South Africa, and Ghana. With over 7 million customers, it built Kenya’s first smartphone assembly plant and expanded into financial products like microloans and insurance, pioneering financial inclusion at scale.

Tala

Tala is a Kenyan fintech company that uses smartphone metadata like call logs, financial transactions, and app usage to build credit profiles and disburse microloans. In 2021, it raised $145 million in Series E funding with participation from new and existing investors, bringing the total funding raised to $360 million.

The company serves over eight million customers, who collectively access over $3 million daily, amounting to nearly $100 million in loans originated each month.

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