So far in 2018, the financial services sector has been the most attractive to investors as startups in the segment raked over $86 million in funding in Nigeria alone, according to Techpoint’s Nigerian Startup Funding Report.
In Africa, the likes of Cellulant, Wallet from Nigeria and ThisIsMe from South Africa are making waves across the world as emerging fintech companies.
These three startups made the list of Emerging50 fintechs in the world, according to the Fintech100 global ranking prepared by H2 Ventures and KPMG.
The collaborative effort, in its fifth year, uncovers and evaluates the most innovative fintech companies globally.
The Fintech100 comprises a ‘Top 50’ and an ‘Emerging 50’ and highlights those companies globally that are taking advantage of technology and driving disruption within the financial services industry.
Here is a look at the three leading fintech companies in Africa according to the report:
Cellulant is one-stop payments ecosystem in Africa; connecting businesses and governments to increasingly mobile consumers.
Cellulant founders, Bolaji Akinboro and Ken Njoroge
The platform powers the internet of payments with dominant market position across 12 Sub-Saharan countries – Kenya, Nigeria, Ghana, Uganda, Zambia, Mozambique, Tanzania, South Africa, Zimbabwe, Botswana and Malawi.
The fintech firm is co-founded by Nigerian Bolaji Akinboro and Kenyan Ken Njoroge and was established in 2014.
ThisIsMe is a South African online verification startup that helps businesses to reduce fraud, automate KYC, improve onboarding and increase revenue while providing an on-demand, seamless customer experience.
Two of the co-founders, Thomas and Chirnside
It holds the record for the fastest FICA verification at three minutes. The company uses an array of tech that includes artificial intelligence, biometrics, machine learning and tamper detection.
Founded by Juan Thomas and Juan Furmie in 2013.
Wallet is a digital payments product that allows users to make payments, transfer funds, pay bills and withdraw from ATMs – using their phone number.
Founded in 2013 by John Oke.