The African continent has proven to be a fertile soil for the development of financial technology (FinTech) companies. 2019 may become a very important year for the development of a range of technologies, from mobile money transfer apps and online lending platforms to tech firms determined to help users save money.
Ventures Africa has compiled a list of the most promising FinTech on the continent. Many of them are Nigeria-based, such as Paystack, KiaKia, Paylater, Lidya and Paga. The list of companies to watch this year includes:
- AppZone, a provider of banking and payment solutions. This company has registered about 2 million accounts and issues over 30,000 cards and processes 100,000 transactions daily.
- Wallet.ng provides access to financial products through phone numbers. With a wallet account, users can make payments for utility bills, recharge, and send money.
- ChatPay allows users to perform financial transactions directly from some social media channels.
- VoguePay is an online payment processor that offers buyers and sellers a secure and easy-to-use means of transacting business online.
- CowriePay is a payment gateway that allows customers to buy now and pay later.
- RenMoney MFB Limited is a consumer finance organization with expertise in the provision of simple money solutions.
- eTranzact is Nigeria’s multi-application and multi-channel electronic transaction switching and payment processing platform. eTranzact has operations in Nigeria, Ghana, Kenya, Zimbabwe, South Africa, Cote d’Ivoire, and UK.
- Remita is an e-payments and e-collections solution on a single multi-bank platform.
- Flutterwave provides the underlying technology platform that allows businesses to make and accept payments anywhere in Africa.
- Piggybank.ng is a platform that works directly with financial institutions with the aim of enabling users to save small amounts of money periodically (daily, weekly or monthly) without thinking about it.
Further reading on venturesafrica.com