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Three South African fintech startups, Paymenow, TymeBank, and Omnisient, have been named in the Financial Times (FT) Africa’s Fastest-Growing Companies 2025 ranking.
Now in its fourth year, the FT ranking, developed in collaboration with research firm Statista, evaluates businesses based on their compound growth rate from 2020 to 2023, providing a retrospective analysis of corporate expansion across Africa. This year’s list featured 130 high-growth businesses, and the three fintech startups were among the 51 South African companies listed.
Ranked sixth, Paymenow is a fintech startup in financial services and insurance. Established in 2019, the company offers innovative solutions that improve financial accessibility for employees and consumers alike. Paymenow has experienced phenomenal growth, with an absolute increase of 3756.1% and a compound annual growth rate (CAGR) of 237.8% between 2020 and 2023. The company’s revenue surged from $0.14 million in 2020 to $4.86 million in 2023, and its team has grown significantly, from 7 employees in 2020 to 38 employees in 2023.
TymeBank has retained its status as one of South Africa’s fastest-growing fintech firms, appearing in the FT’s list but ranked 29th this year, down from 21 in 2024. A deeper look at its growth metrics reveals key changes in its financial performance and expansion trajectory over the past year.
Between 2020 and 2023, TymeBank’s revenue soared from $10.67 million to $67.70 million, representing a 610.9% absolute growth rate in the 2025 ranking. Comparatively, in the 2024 list, its revenue had increased from $4.65 million in 2020 to $40.41 million in 2023, reflecting an 885.69% absolute growth rate at the time. The bank’s CAGR fell from 114.41% in 2024 to 92.3% in 2025. TymeBank’s workforce grew significantly, increasing from 350 employees in 2023 to 602 employees in 2025.
Omnisient is a financial services and insurance startup founded in 2019. The company focuses on data-driven financial solutions, helping businesses and financial institutions use secure and ethical data-sharing practices for customer insights and risk analysis.
Omnisient’s ranked 30 and was not listed in the 2024 ranking list. Between 2020 and 2023, Omnisient’s revenue surged from $0.32 million to $2.00 million, reflecting an absolute growth rate of 604.9% and a compound annual growth rate (CAGR) of 91.7% in the 2025 FT ranking. Omnisient’s employee count increased from 10 in 2020 to 39 in 2023, indicating consistent investment in talent and operational capacity.
South Africa’s fintech startups heavily dominate the startup landscape, with over 140 companies actively operating in the space. Notably, around 30% of these businesses specialise in payments and remittances, reflecting the country’s growing demand for digital financial solutions and seamless transaction services.
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