Fintech companies continue to dominate Africa’s tech ecosystem, securing 35% of total funds raised in H1 2024. As the sector matures, startups across four key categories—credit cards, contactless payments, payment infrastructure, and escrow services—are emerging as leaders for 2025. In the credit card sector, Allawee and MONAPP address Nigeria’s low credit card adoption, targeting individual consumers and commercial drivers respectively. For contactless payment, startups like TAP, Karla, and Cash Africa are positioning themselves as market leaders, focusing on seamless, NFC-enabled transactions. Meanwhile, infrastructure startups Zone, Keyrails, and HUB2 are redefining cross-border payment systems, incorporating blockchain and APIs to streamline operations and enhance fraud prevention. Finally, escrow services Middleman and Aje tackle trust issues in social commerce by offering secure, blockchain-based payment solutions. Together, these fintechs demonstrate Africa’s rapid innovation and growing competitiveness in financial technology.
SOURCE: TECH CABAL
