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Ten African fintechs, including Interswitch, Moniepoint, M-KOPA, OPay, and PiggyVest, have been named among the world’s top 300 fintech companies in 2025 by CNBC and Statista. The fintech companies list highlights firms driving innovation across seven segments, including payments, wealth tech, and alternative financing amid a global funding slump and increased investor caution.
African Startups Rise on Fintech Global Stage
The inclusion of African startups signals the continent’s rising relevance in global digital finance, particularly in the payments ecosystem. Nigeria led the region’s performance with five companies featured prominently on the fintech companies list, drawing attention to West Africa’s stronghold.
Interswitch, OPay, PalmPay, and Moniepoint emerged in the payment category, along with Paymob and Yoco from Egypt and South Africa, respectively. PiggyVest is the only Nigerian and African fintech recognised in the wealth technology category. M-KOPA and Tala also found their way in the alternative financing category, showing diversity in African fintech operations.
Nigeria Dominates Global Fintech Companies List
Statista analysed over 2,000 companies globally to compile the List of fintech companies. It utilised key performance indicators, including revenue, growth rate, and employee headcount. The selection depended on company-submitted data and independent market research. CNBC noted that the list is unranked and does not follow a numerical order.
Below are the African fintechs named in the list:
OPay was launched in 2018 and quickly became one of the leading fintech companies in Nigeria. It has earned acclaim for its multifunctional super-app, which processes mobile payments, money transfers, loans, and merchant services. It currently serves more than 60 million users across Nigeria, including underserved and unbanked regions.
Opay, Palmpay, Moniepoint, Piggyvest and Others Emerge Amidst Top Fintech Startups in the World
In 2024, OPay’s valuation climbed by over 30 per cent. This increase brought the company closer to achieving a $3 billion valuation benchmark. OPay was recognised in the payment category of the fintech companies list for facilitating transactions between people and businesses, both online and offline.
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PalmPay was launched in 2019 and has since become a household name in Nigeria’s consumer payments space. The company currently serves over 35 million users. PalmPay has announced plans to expand its services into South Africa, Côte d’Ivoire, Uganda, and Tanzania.
In the first quarter of 2025, PalmPay processed over 15 million daily transactions, cementing its relevance among Africa’s top financial services providers. It was also one of the six Nigerian startups listed on the Financial Times’ 2024 ranking of Africa’s Fastest-Growing Companies.
Moniepoint, formerly known as TeamApt, recently reached a $1 billion valuation milestone. This development followed a $110 million funding round supported by global investors, including Google and Visa. The company operates a full-stack financial platform.
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Moniepoint’s services target individuals and businesses. It offers POS terminals, digital banking, credit access, and cross-border payments. The platform now processes over one billion transactions every month. Its total payment volume recently surpassed $22 billion.
Moving Forward…
PiggyVest, listed in the fintech companies list for a second consecutive year, is the only African company in the wealth technology category. It stands alongside global financial giants such as LendingTree from the United States and GTN from the United Arab Emirates.
Since its establishment in 2016, PiggyVest has served more than seven million Nigerians. It has paid out over ₦2 trillion to users. CEO and co-founder Somto Ifezue described the listing as a sign of the company’s growth in addressing users’ long-term needs.
Interswitch, Paymob, MyFawry, and Yoco also made the cut
Interswitch has been a foundational player in Africa’s digital payments sector since 2002. The company introduced Verve, Africa’s first EMV-verified domestic card scheme. It also offers cross-border financial services to several African countries.
More than 85 million Interswitch-branded cards have been issued. The company raised $110 million in 2022 from LeapFrog Investments and Tiana Africa Capital. This investment supported its efforts to scale payment services across the continent.
Paymob, an Egyptian fintech, empowers over 350,000 merchants in the Middle East and North Africa. It provides online and offline payment solutions through card processing, digital wallets, and QR payment channels.
In 2020, Paymob raised $3.5 million, followed by a Series A round that closed at $18.5 million in 2021. In 2024, it raised an additional $22 million during a Series B extension to enhance its fintech infrastructure across the MENA region.
MyFawry is the consumer arm of Egypt’s Fawry, a leading electronic payments platform. It integrates with services ranging from utility bill payments to buy-now-pay-later features and personal banking.
In 2024, MyFawry’s revenue grew to $121.6 million year-on-year. The company’s net profit jumped to $35.5 million during the same period. Banking services contributed nearly 47 per cent of that revenue growth.
Its retail network expanded to include more than 372,400 POS terminals. The company remains a top player on the fintech companies list in the North African market.
South Africa’s Yoco Made Its Way In
Yoco, a South African startup, delivers affordable point-of-sale devices. It is used by 200,000 businesses to accept card payments and manage sales. Yoco has secured $107 million across four funding rounds.
The largest of these was its $83 million Series C round in July 2021. Investors in that round included The Raba Partnership and other global venture capital firms. The company is pushing to deepen financial inclusion in South Africa’s retail sector.
A Kenyan-based startup also made the list
M-KOPA is a Kenyan startup that provides digital loans and asset financing through a pay-as-you-go model. Its customers can access smartphones, e-bikes, and bundled services on flexible terms.
By 2024, M-KOPA had expanded to Nigeria, Uganda, South Africa, and Ghana. It also launched Kenya’s first smartphone assembly plant. The company currently serves more than seven million customers and has launched microloans and insurance products.
Tala also Stands Out Amongst Peers
Tala, another Kenyan fintech, utilises smartphone metadata, including call logs and app usage, to construct credit profiles. It disburses microloans using these profiles. In 2021, Tala raised $145 million in its Series E funding round.
This round brought its total funding to $360 million. Tala serves more than eight million customers, who access about $3 million in loans daily. That figure translates to nearly $100 million in originated loans every month.
The 2025 fintech companies list serves as a recognition of African firms making a global impact in the finance sector. It also highlights investor confidence in the region’s digital economy. From payments to wealth tech, African fintechs continue to redefine innovation and financial access.
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As new categories emerge, more African startups are likely gaining global recognition. This inclusion is a testament to the continent’s growing influence in digital finance and its enduring growth potential.
