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Business Insider
20-07-2025
- Business
- Business Insider
10 African Fintech companies named among World's top 300
Ten African fintech companies have been named among the world's top 300 Fintechs in 2025 by CNBC and Statista highlighting the continent's growing influence in global financial innovation, despite a decline in global investment. Ten African fintech companies are recognized among the world's top 300 fintechs in 2025 Highlighted categories include digital payments, assets, banking, financing, and wealth technology. Companies like OPay, PalmPay, and Interswitch exemplify progress in payments, while Tala and M-KOPA innovate financing solutions. The list, spanning seven categories, including digital payments, digital assets, enterprise fintech, Insurtech, wealth technology, neobanking, and alternative financing, highlights significant shifts in the financial technology landscape. The selection process was based on key performance indicators such as revenue growth, user acquisition, product innovation, and market expansion. Notably, global fintech investment dropped by 20% in 2024 to $95.6 billion, a seven-year low, according to KPMG's Pulse of Fintech report. Nonetheless, African fintechs continue to thrive, driving financial inclusion, transforming payment systems, and expanding digital lending across the continent, particularly in markets where traditional banking services are limited. The 10 African fintechs: S/N Company Country Category 1 OPay Nigeria Payment 2 PalmPay Nigeria Payment 3 Moniepoint Nigeria/Uk Payment 4 Interswitch Nigeria Payment 5 MyFawry Egypt Payment 6 PayMob Egypt Payment 7 Yoco South Africa Payment 8 PiggyVest Nigeria Wealth technology 9 M-KOPA Kenya/UK Alternative Financing 10 Tala Kenya Alternative Financing Africa's Fintech Powerhouses Spanning four regions, West, East, North, and Southern Africa; the selected companies reflect the diversity and resilience of African fintech innovation: OPay (Payments): With over 60 million users, OPay operates a comprehensive super-app offering mobile payments, loans, and merchant services. Its valuation rose significantly in 2024, bringing it close to the $3 billion mark. Recently the fintech company was awarded Fintech Company of the Year in Nigeria, and was also shortlisted by the World Economic Forum as a "Global Disruptor in Emerging Markets". PalmPay: (Payment) a leading payment platform has witnessed remarkable growth, serving 35 million users and processing 15 million daily transactions in Q1 2025. It is set to enter new markets, including Côte d'Ivoire, South Africa, Uganda, and Tanzania, after being named on the Financial Times' Africa's Fastest-Growing Companies list in 2024. Interswitch: (Payment) With over two decades of experience in digital payments, Interswitch has established itself as a veteran in the industry. The company has issued over 85 million Verve cards and maintains a strong cross-border presence. Its reputation Interswitch's dominance in the market was further recognized when it was named among Africa's Top 10 Most Valuable Brands in 2024 by Brand Africa. Moniepoint: (payment) formerly TeamApt, has achieved unicorn status after securing $110 million in funding from prominent investors, including Google and Visa. Its remarkable growth earned it recognition as Africa's Fastest-Growing Fintech in the Financial Times' 2024 list of Africa's Fastest Growing Companies. PiggyVest (Wealth Technology): The only African fintech named in the wealth technology segment, PiggyVest has served over 7 million users and facilitated ₦2 trillion in savings and investments since its launch in 2016. PiggyVest won Best Digital Savings Platform at the 2024 African Fintech Awards Expanding Across Africa Beyond Nigeria, fintechs in Egypt, Kenya, and South Africa also earned spots: MyFawry: (Payments): A consumer-facing platform recorded over $121.6 million in revenue in 2024, with 47% of its growth driven by digital banking services. The platform operates over 372,000 POS terminals. was named Best Consumer Fintech App at the 2024 Egypt Fintech Innovation Awards. Paymob (Payments): Serving over 350,000 merchants, Paymob raised $22 million in 2024 to scale fintech infrastructure across North Africa and beyond. Recognised by Forbes Middle East as one of the Top 20 Fintech Startups to Watch in MENA, P M-KOPA (Alternative Financing): Known for its pay-as-you-go smartphones and asset financing, M-KOPA now operates in five countries with 7 million customers. was given the Financial Inclusion Award at the 2024 Africa Fintech Summit. Tala: (Alternative Financing): With $360 million in total funding, Tala has revolutionised microloans using smartphone data and now serves over 8 million users. named one of Fast Company's Most Innovative Companies in 2024 Yoco: (Payments): South Africa's leading POS fintech, Yoco, won Best SME Enabler at the 2024 African Fintech Forum. Known for its low-cost POS devices, Yoco serves over 200,000 SMEs. It has raised $107 million to date, including an $83 million Series C round in 2021. Africa's Fintech Future The inclusion of these African startups on a global stage affirms the continent's fintech momentum despite headwinds. While Western markets grapple with investor fatigue, African startups are solving real-world problems, financial access, inclusion, and trust, at scale.
Business Insider
11-06-2025
- Business
- Business Insider
Unifying the world's 180 currencies: Meet the people driving Leatherback's resurgence
In line with its mission to transform global financial access for Africans and businesses at home and in the diaspora, Leatherback, a leading cross-border payment platform, has announced the appointment of four key executives to its leadership team. This development ushers in a new era of stability and growth for the company as it strengthens its approach to simplify and scale cross-border payments on the continent and across the world. Founded in 2019, Leatherback set out to unify the world's 180 currencies through an array of customer-centric product offerings that offer users seamless transaction experiences across multiple currencies and borders. Now, as the company expands to new markets and introduces exciting new features that bring it closer to this future, these appointments provide the leadership, network and core competencies required to access new opportunities, drive innovation, and reinforce stakeholder confidence. Ochebhoya Ekpete named Managing Director Ochebhoya Ekpete has been appointed Managing Director of Leatherback, UK- subject to regulatory approval. Taking over from the outgoing interim CEO. With over 15 years of experience in financial leadership, transformation, and governance, he brings a wealth of knowledge across fintech, payments, and multinational operations. He has held leadership roles at Cellulant, Interswitch, and Stripe where he focused on global financial strategy, commercial pricing, and treasury operations. At Leatherback, he will lead the team in strengthening financial controls, improving operational efficiency, and supporting the company's long-term financial objectives. Commenting on his appointment, Ekpete said 'As key players in the global financial space, Leatherback is playing a critical role in ensuring that challenges surrounding seamless cross border payments and transactions are a thing of the past. We are not just building reliable payment solutions, we're also opening doors to global possibilities for individuals and businesses. I am honoured to be coming onboard at this time and I look forward to working with the incredible team to scale our impact.' Usman Amusat joins as VP Product and Operations Usman Amusat has joined Leatherback as Vice President of Product and Operations, bringing with him years of experience building user-centric products across fintech, digital banking, and identity systems. With a reputation for his hands-on leadership style and passion for product innovation, Usman has led growth and product strategy at leading African tech firms including Flutterwave, Smile Identity, and most recently, Dot, where he served as Chief Product Officer. At Leatherback, Usman will play a key role in driving product development, operational excellence, and market expansion. His deep expertise in user experience design, strategic growth, and cross-functional execution aligns seamlessly with Leatherback's mission to simplify global payments and unify the world's currencies. Mayowa Afe-Ogundele joins as Chief Technology Officer Leading the charge at Leatherback's technology team, is Mayowa Afe-Ogundele who joins as Chief Technology Officer, bringing with him a wealth of experience in building secure, scalable, and compliant financial systems. His expertise spans digital payments, systems architecture, infrastructure, and emerging technologies such as blockchain. At Leatherback, he will oversee the company's technology strategy and infrastructure development. Speaking at an executive management meeting, Afe-Ogundele said, 'I am excited to join Leatherback at such a critical point in our journey. I particularly look forward to strengthening our core infrastructure as we advance in our mission to scale cross-border payments across the world.' Oreoluwa Ajayi resumes as Head, Sales (Digital Ecosystems) Also joining the Leatherback executive management team is Oreoluwa Ajayi, a seasoned financial services expert with over 13 years of experience in business transformation, growth strategy, and customer engagement across the fintech and digital services industries. She previously worked at Interswitch, Migo, and Prembly as Head of Commercials, where she led expert teams to drive market penetration, business expansion and revenue generation. At Leatherback, Oreoluwa will be responsible for leading sales strategy, expanding business opportunities, and strengthening customer relationships. Globally, challenges with interoperability and compliance bottlenecks still limit the efficacy of cross-border payments systems and processes. By building a platform that supports multi-currency wallets, instant transfers, and regulatory-compliant infrastructure, Leatherback continues to simplify these processes and enable financial inclusion through frictionless, inclusive, and affordable cross-border payment services. With these appointments, Leatherback has reaffirmed its commitment to excellence, transparency, and innovation. As the company scales its offerings across Africa, the UK, North America, and emerging markets, its new team of seasoned financial powerhouses will be instrumental in driving its mission with a renewed sense of purpose. Founded in 2019, Leatherback is a UK-licensed cross-border payments platform that enables users in Africa and across the world to transact seamlessly in multiple currencies. Leatherback simplifies remittance, supports business expansion, and unlocks opportunities for users across over 15 countries.
Bloomberg
21-05-2025
- Business
- Bloomberg
Lagos Startups Lure 42% More Funding, Defying Slowdown in Africa
Startups in Nigeria's commercial hub of Lagos attracted 42% more investment last year, as the presence of businesses such as Flutterwave Inc. and Interswitch Ltd. showcased the city's appeal as a hub for new enterprises. Companies in Lagos raised $252 million last year, up from $178 million in 2023, according to the Netherlands-based research firm
