South African fintech Street Wallet has secured R6.2 million (approximately $350,000) in a funding round to expand its digital payment solutions for informal traders and has announced the acquisition of tipping-platform startup Digitip, in moves aimed at deepening financial inclusion in the country’s informal economy.
The latest funding, at a reported valuation of over R34 million (around $2 million), will support Street Wallet’s efforts to scale operations, broaden merchant onboarding and extend its footprint across South Africa’s informal markets, the company said. The startup’s offering enables informal workers, including street vendors and service providers, to accept cashless payments using simple QR-code cards linked to mobile wallets, helping bridge gaps in traditional banking access.
In a strategic expansion of its service ecosystem, Street Wallet has acquired Digitip, a South African digital tipping platform designed to help informal workers receive electronic gratuities. The acquisition will integrate Digitip’s technology into Street Wallet’s infrastructure, enabling faster payouts, lower transaction fees and an improved user experience for both traders and customers.
Street Wallet’s CEO said the consolidation with Digitip accelerates the company’s mission to embed informal workers more fully into the digital economy, particularly in regions such as KwaZulu-Natal, where the combined offerings are expected to provide enhanced financial tools and liquidity options previously unavailable to many independent workers.
Market observers noted that the dual announcement of fresh capital and an acquisition underscores growing investor and founder confidence in fintech models tailored to underserved segments of Africa’s payments landscape, where cash remains dominant and digital inclusion remains a key challenge for economic participation.
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