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Home Startups

Seven African Start-ups Among Fastest Growing Fintech Startups in the World

Tech Gist Africa by Tech Gist Africa
10/24/2018
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A tech market intelligence platform, CB Insights has released its second annual Fintech 250 — a list of 250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.

We're excited to reveal the #Fintech250: the top #fintech startups of 2018. Collectively, they've raised $53B in funding and 44% of them are based outside of the U.S. Get details on the entire cohort right here: https://t.co/Zpmv89O49e

— CB Insights (@CBinsights) October 22, 2018

CB Insights stated that the fintech companies were selected by Intelligence Unit from a pool of nearly 4,000 applicants and nominees based on several factors which include: data submitted by the companies, business model and momentum in the market. It also bases its judgement on the company’s Mosaic Score, CB Insights’ proprietary algorithm that measures the overall health and growth potential of private companies.


See Also: Paystack Raises $8m Series A Funding from Stripe, Visa, Tencent And Other Angel Investors


Seven African fintech start-ups were featured in the list alongside international payment companies like Stripe, TransferWise, CoinBase, GoFundMe and WorldRemit.

Among seven African fintech start-ups that made the list include: BitPesa (Kenya), Branch (Nigeria), Cellulant (Kenya), Jumo (South Africa), Paga (Nigeria), Paystack (Nigeria) and Yoco (South Africa).

According to CB Insights, the 2018 Fintech 250 have raised approximately $53B in aggregate funding across 947 deals since 2013, and includes start-ups at different investment stages of development, from early-stage (seed/Series A) companies to well-funded unicorns.

More on TechGist Africa:

  • StartUp Spotlight: Lifesaving, Blood Delivering Drone Start-up in Rwanda, Zipline
  • Start-up Spotlight: Enova Robotics, First Robotics Startup in Africa
  • African FinTech Startups win big in Visa Everywhere Initiative
  • Ghanaian Agri-Tech Startup, Cowtribe Wins Seedstars Ghana
  • VC4A Selects 8 Start-ups For the 2018 VC4A Venture Showcase – Series A
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Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

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