RankingFintech · South Africa · 2023 Funding
Top Funded FinTech Startups in South Africa of 2023
9 companies with $311.2M in 2023 funding between them. Planet42 leads with $101.2M, followed by TymeBank ($77.8M) and Peach Payments ($31M).
- 2023 Funding
- $311.2M
- 9 companies
- Median per company
- $25M
- average $34.6M
- Top 3 share
- 67%
- Planet42 alone 33%
- Backer relationships
- 90
- across the 9
| # | Company | 2023 Funding |
|---|---|---|
| 1 |  Access to mobility for the underbanked | $101.2M |
| 2 |  TymeBank is a South African fully black-owned and controlled investment company. | $77.8M |
| 3 |  Peach Payments provides payment solutions to online and mobile businesses enabling them to easily accept payments from consumers across the globe. | $31M |
| 4 |  Stitch is a South African fintech platform building API to make Africa a world-leader in fintech. | $25M |
| 5 | Flow48 enables SME growth by transforming future revenues into up-front capital under flexible terms. | $25M |
| 6 |  Naked Insurance provides instant, honest insurance at game-changing prices. | $17M |
| 7 |  Paymenow is a financial wellness and inclusion platform that allows employees on demand access to earned wages. | $27.5M |
| 8 |  Revio accepts payments globally, recover failed transactions, reduce customer churn. | $5.2M |
| 9 |  Root is an end-to-end digital insurance platform that enables you to launch new products and digital engagement channels fast. | $1.5M |
All 9 shown · generated 16 Feb 2026
Missing a company? Submit itFrequently asked about Top Funded FinTech Startups in South Africa of 2023
- Which company leads Top Funded FinTech Startups in South Africa of 2023?
- Planet42, with $101.2M, 33% of the $311.2M on this list. TymeBank is second ($77.8M).
- How much did the companies on this list raise?
- $311.2M across 9 companies. The median company raised $25M. The top three took 67% of the total.
- Which cities are they based in?
- Cape Town (4 companies), Johannesburg (3) and Stellenbosch (1).
- How is this list built?
- This cohort contains startups classified as Fintech in South Africa and is ranked by total USD funding announced in 2023. Funding values are limited to 2023; latest-round and company details reflect the most recent tracked data.
