South African fintech startups to watch in 2025

South Africa’s fintech space is one of the most developed in Africa. It makes up nearly 40% of the continent’s total fintech earnings. In 2023, Disrupt Africa counted over 140 fintech startups in the country. Around 30% South Africa’s fintech startups focus on payments and money transfers, showing just how much demand there is for fast, easy ways to move money.

Big names like TymeBank, Paymenow, Omniscient, Stitch, and Yoco, amongst others, are already on global watchlists. But beyond the big players, some of the most interesting moves in South Africa’s fintech space right now are not chasing billion-dollar valuations just yet.

In this curated directory, four fintech startups stood out not just for their funding but for the markets they serve: schools, travel, informal merchants, and small businesses across South Africa. This is a spotlight on startups tackling a specific payment pain point, worth keeping an eye on in 2025.

Tata-iMali

Tata-iMali is building a low-cost blockchain wallet and point-of-sale system for South African merchants, such as spaza shops, street traders, and small businesses that find traditional card machines too expensive or complicated. Tata-iMali platform operates using ZARP, a Rand-backed stablecoin, which enables instant payment settlement.

Founded in 2023 by Gregory Andrews (CEO) and Donel Chihoma, Tata-iMali has already caught the attention of global and local backers. Tata-iMali’s total fundraising of about $200,000 (R3.61million) was completed in July 2025, with Stefan Thomas (former CTO of Ripple) making up the bulk of the round with $150,000 (R2.69 million).

TurnStay

TurnStay, a travel fintech, helps African hotels, guesthouses, and travel companies get paid, especially by international customers. It saves these businesses money by lowering payment and booking fees, and lets customers pay using familiar methods in their home currency. TurnStay also helps reduce failed payments and gets travel businesses more direct bookings, so they don’t lose revenue to high fees from global booking sites.

Founded in 2021 by Alon Stern (previously co-founder of Slide Financial) and James Hedley (co-founder of Quicket), Turnstay claims it shrinks the cost of international payments by up to 70% for travel businesses

The platform has processed over R50 million (about $2.7 million) in transaction value since inception. In August 2025, it raised $2 million (R34 million) in a seed round led by First Circle Capital, with participation from leading US and African VCs including  TLCom Capital, Enza Capital, Incisive Ventures, CVVC, and Equitable Ventures.

Sticitt

Sticitt, a cashless payments and financial literacy platform, helps schools and other organisations, like clubs or student bodies, to receive and manage payments. Sticitt provides a simple app and system that allows parents, learners, or members to pay for things like school fees, uniforms, or events online or via card. It also helps schools track who has paid, send reminders, and keep clear records, making financial management much simpler and safer for everyone involved.

Founded in 2018 by Dennis Wevell, Mitch Dart, and Theo Kitshoff, Sticitt is live in 841 schools and serves over 75,700 users, and has facilitated transactions exceeding ZAR 6.3 billion (over $340 million). In July 2025, it raised an undisclosed Series A round led by Knife Capital.

UsPlus

UsPlus helps small and medium-sized businesses (SMEs) get quick access to credit. UsPlus gives businesses cash up front by buying their unpaid invoices or purchase orders.  Instead of waiting weeks or months for customers to pay, a business can get most of that money right away.

When an SME has completed work or delivered goods but hasn’t yet been paid, UsPlus will “buy” that invoice at a discount (a process called invoice discounting or factoring). The business gets cash instantly, and UsPlus collects the payment from the original customer when it’s due. This provides immediate working capital to SMEs, allowing them to pay suppliers, staff, or invest in growth without taking on a traditional bank loan. UsPlus also does this for purchase orders and contracts, not just invoices

Founded in 2015 by Leonidas (Leon) Kirkinis, UsPlus has advanced more than $130 million (over R2.7 billion) to South African SMEs using this model, helping over 700 businesses and supporting thousands of jobs.

In January 2025, UsPlus secured $2 million (about R38 million) in funding from the Verdant Capital Hybrid Fund. This investment was structured as junior convertible debentures and is intended to expand UsPlus’s working capital solutions for SMEs across South Africa.

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