The taming of the most advanced techniques and technologies by Africans should not be neglected. The technological evolutions helping, and the growing connectivity, allow the young people of the continent to touch the finger and to master many technologies which one would attribute much more easily to other continents. On the other hand, the constraints of the continent make it necessary to develop solutions adapted to the way locals operate, in particular with regard to means of payment. This is how Africa, in the space of 5 years, has become one of the most prolific hubs in fintech.

Here are 6 companies that we have selected for you:


Fawry is a multifunctional solution that combines online and offline channels, and which allows its users not only to withdraw their money from ATMs, but also to purchase goods from e-commerce companies, as well as to pay at traditional points of sale. In addition to that, Fawry allows you to make mobile money. The company founded by Ashraf Sabry is present in more than 100,000 locations throughout Egypt.

Fawry has already raised more than 100 million dollars in funds, facilitates 2.1 million daily transactions, for more than 20 million customers.

Paga aims to be a complete mobile payment infrastructure. The company allows its users to combine the resources of all their cards and bank accounts in one place: the Paga wallet. This allows users of the app to send and receive money digitally.

The Nigerian company founded by Tayo Oviosu has more than 12.8 million customers and has already been able to raise 34.7 million in funding.

Branch is a tool created by Matt Flannery and Daniel Jung, which aims to check the creditworthiness of Africans. The app uses a machine learning algorithm that analyzes various data collected from users’ smartphones – call and SMS logs, contact lists, geolocation, phone details – and some traditional banking information (reimbursement history for example).

Branch now has more than 3 million users. The company has already raised nearly $ 260 million for its financing and distributed more than $ 350 million in loans.

Initially, Celluant’s goal was to help musicians earn money through payments obtained from music lovers who paid to listen to their music on the platform.

Its model has evolved and today the company is focused on payments. This is done through a blockchain-based marketplace allowing unbanked farmers in rural areas to carry out contractual and financial operations and two payment facilitation solutions.

Celluant has the ambitious goal of fully digitizing payments on the continent. The company founded by Ken Njoroge has already raised 54.5 million dollars.


Jumo aims to provide financial services to people little regarded by the traditional banking system, and by extension, excluded from access to finance. Jumo uses a set of behavioral data to offer financial operators, telephony, etc., the ability to develop suitable products and services.

The company founded by Andrew and Watkins-Ball has already raised $ 91.7 million and, according to its founder, has distributed more than $ 1 billion in loans.

While the company is based in California (Santa Monica), Tala has built its products and services for the Kenyan market. Present in other countries in the world (the Philippines, India or Mexico), it is also present in Tanzania. It is founded by Indian entrepreneur Shivani Siroya, a specialist in consulting and investment.

Tala’s goal: to analyze cell phone and behavioral data to make a loan fast. In practice, anyone with an Android smartphone can apply for a loan from Tala, with amounts ranging from $ 10 to $ 500. The lending process is done entirely on a mobile platform, even the cash distribution. Main target: millennials. The company has already raised $ 109.4 million in funds.

The various fintech solutions developed in Africa see their success linked to their adaptation to local realities: low rate of banking, high adoption of mobile money. Finding the right measure and offering solutions that take these constraints into account is the bet to be won by anyone wishing to invest in the sector which continues to see young shoots born, and develop rapidly, in particular through fundraising reaching easily millions of dollars. The unicorns will soon no longer tell each other.

About The Author

CEO AfrikaTech

Comme beaucoup de personnes j’ai connu l’Afrique à travers des stéréotypes : l’Afrique est pauvre, il y a la guerre, famine… Je suis devenu entrepreneur pour briser ces clichés et participer à la construction du continent. J’ai lancé plusieurs entreprises dont Kareea (Formation et développement web), Tutorys (Plate-forme de e-learning), AfrikanFunding (Plate-forme de crowdfunding). Après un échec sur ma startup Tutorys, à cause d’une mauvaise exécution Business, un manque de réseau, pas de mentor, je suis parti 6 mois en immersion dans l’écosystème Tech au Sénégal. J’ai rencontré de nombreux entrepreneurs passionnés, talentueux et déterminés. A mon retour sur Paris je décide de raconter leur histoire en créant le média AfrikaTech. L'objectif est de soutenir les entrepreneurs qui se battent quotidiennement en Afrique en leur offrant la visibilité, les connaissances, le réseautage et les capitaux nécessaires pour réussir. L'Afrique de demain se construit aujourd'hui ensemble. Rejoignez-nous ! LinkedIn:

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