Fintech Startups Worth Keeping an Eye on in 2025, South Africa
In the dynamic world of fintech, South Africa is making a name for itself as a hub of innovation. By mid-2025, four South African fintech startups have raised substantial funding, each serving specific markets.
One of these startups is TurnStay, a travel-focused fintech that has raised a $2 million seed round. Led by First Circle Capital, TurnStay provides payment infrastructure that reduces costs for travel and tourism merchants, improving payment processing with stablecoins and local settlements. Since its inception, TurnStay has processed over R50 million in transaction value.
Another notable fintech is Tata-iMali, a fintech building a low-cost blockchain wallet aimed at small businesses. Tata-iMali raised a $150K angel round from Ripple's CTO, Stefan Thomas. The startup operates using ZARP, a Rand-backed stablecoin, which enables instant payment settlement.
UsPlus, a fintech that helps small and medium-sized businesses (SMEs) get quick access to credit, has also secured significant funding. In January 2025, UsPlus secured $2 million from the Verdant Capital Hybrid Fund. UsPlus has advanced more than $130 million to South African SMEs and has supported over 700 businesses and thousands of jobs with its model.
While the specific startups focusing on schools and informal merchants are not named explicitly, the African fintech funding landscape in 2025 prominently features startups targeting diverse segments, including EdTech and informal merchants.
TurnStay, with its focus on reducing the cost of international payments by up to 70%, is helping African hotels, guesthouses, and travel companies get paid by international customers. The startup, live in 841 schools and serving over 75,700 users, has facilitated transactions exceeding ZAR 6.3 billion.
South Africa's fintech sector accounts for nearly 40% of Africa's total fintech earnings. Notable fintech startups in South Africa include TymeBank, Paymenow, Omniscient, Stitch, Yoco, and Tata-iMali.
Sticitt, a cashless payments and financial literacy platform, is another player in this thriving sector. While details about school-focused or informal merchant-focused startups are scarce, the general funding data shows strong investment in innovative fintech ventures serving specific market niches across Africa, including South Africa.
In July 2025, Sticitt raised an undisclosed Series A round led by Knife Capital. The investment for UsPlus was structured as junior convertible debentures and is intended to expand its working capital solutions for SMEs across South Africa.
These four fintech startups - TurnStay, Tata-iMali, UsPlus, and Sticitt - are just a few examples of the innovative fintech startups making a significant impact in South Africa's fintech sector. As the sector continues to grow, we can expect to see more startups emerge, serving a variety of markets and helping to drive financial inclusion and economic growth.
- By mid-2025, TurnStay, a travel-focused fintech, raised a $2 million seed round to provide stablecoin and local settlement payment infrastructure for travel merchants, reducing costs and processing over R50 million in transaction value.
- Tata-iMali, another fintech, raised a $150K angel round from Ripple's CTO, Stefan Thomas, to build a low-cost blockchain wallet targeted at small businesses, using ZARP stablecoin for instant payment settlement.
- UsPlus, a fintech offering quick access to credit for SMEs, secured $2 million from the Verdant Capital Hybrid Fund in January 2025, advancing more than $130 million to over 700 South African SMEs and supporting thousands of jobs.
- In the fintech industry of South Africa, Sticitt, a cashless payments and financial literacy platform, raised an undisclosed Series A round in July 2025 led by Knife Capital, expanding its working capital solutions for SMEs across South Africa.
- The African fintech funding landscape in 2025 prominently features startups targeting diverse segments like EdTech and informal merchants, with more innovative fintech ventures serving specific market niches expected to emerge in South Africa, driving financial inclusion and economic growth.
