African Fintech Companies Secure 28% of Global Top 250 Spots

Several African fintech companies have secured spots on the CNBC and Statista’s World’s Top 250 Fintech Companies list for 2025, highlighting the continent’s burgeoning fintech sector. Nigerian firms such as Moniepoint, OPay, PalmPay, and PiggyVest are at the forefront of this global recognition, alongside other innovative African startups like M-Kopa, MyFawry, PayMob, and Yoco. These companies are transforming financial services, driving inclusion, and reshaping economies across the continent.

Nigeria, the largest economy in Africa, is a significant player in the fintech industry. The country accounts for 28% of the continent’s fintech companies and 36% of fintech funding from 2020 to mid-2024. With over 430 fintechs operating in the country as of February 2025, Nigeria’s fintech ecosystem is vibrant and diverse. The Central Bank of Nigeria (CBN) has played a crucial role in balancing regulation with innovation, although challenges such as inflation and cybersecurity persist.

Interswitch, a Nigerian fintech pioneer founded in 2002, has solidified its place among the World’s Top 250 Fintech Companies for 2025. Valued at over $1 billion, this unicorn provides digital payment solutions, including the Verve card, Quickteller platform, and payment gateway services, processing billions in transaction value annually. Serving over 30 million users and 100,000 merchants across Africa, Interswitch facilitates seamless transactions for banks, businesses, and individuals. Its innovative infrastructure, including partnerships with global players, supports financial inclusion and cross-border payments.

Moniepoint, formerly TeamApt, is a fintech unicorn valued at over $1 billion. Founded in 2015, it provides digital banking tools for small and medium-sized enterprises (SMEs), including payment processing, working capital, and payroll support. Its platform serves over 10 million businesses and individuals, processing more than 1 billion transactions monthly, with a payment volume exceeding $22 billion. In October 2024, Moniepoint raised $110 million in a Series C round, tripling its valuation. A strategic partnership with Visa in January 2025 aims to enhance transaction visibility and support continental expansion. Moniepoint’s inclusion in TIME’s 2025 Most Influential Companies list underscores its transformative role.

OPay, valued at $2 billion, is Nigeria’s second most valuable fintech. Launched in 2018, it offers a one-stop platform for payments, transfers, savings, loans, and merchant services. With over 50 million users and 1 million merchants, OPay processes monthly transactions worth $12 billion. Its 10 million daily active users reflect its dominance in Nigeria, Egypt, and Pakistan. OPay achieved its first monthly profit in 2024 and has raised over $520 million to fuel expansion. Despite past security concerns, including unverified account openings, OPay introduced features like the “Large Transaction Shield” to combat fraud. Recognised by CB Insights’ Global Fintech 250 for three years, OPay is a cornerstone of Nigeria’s fintech revolution.

PalmPay, valued at $800–$900 million, is a leading player in digital payments. Launched in 2019 with backing from Transsion Holdings, it serves over 30 million users in Nigeria and Ghana. Its platform offers money transfers, bill payments, credit services, and savings, supported by a network of 500,000 mobile money agents. Its unique “Recharge2Cash” feature lets MTN subscribers convert airtime to cash, while its 99.5% ten-second transaction success rate sets it apart. Named one of the World’s Top 250 Fintech Companies in 2024 and 2025, PalmPay is lauded for its user-friendly interface and offline reach.

PiggyVest, originally Piggybank.ng, has revolutionised personal finance since its 2016 launch. With 5 million users, it offers automated savings, fixed savings, and investment tools like Flex Naira and group savings. In 2024, PiggyVest paid out NGN 835 billion ($547.3 million), a 53% year-over-year increase, reaching NGN 2 trillion in total payouts since inception. Its inclusion in the 2025 Top Fintech Companies list highlights its role in fostering financial discipline. PiggyVest’s advanced encryption ensures user security, addressing concerns in Nigeria’s fraud-prone digital space.

Beyond Nigeria, other African fintechs are gaining international recognition. These startups are tackling unique challenges with innovative solutions, from pay-as-you-go financing to small business empowerment. Kenya-based M-Kopa, valued at $500–$600 million, is a pioneer in pay-as-you-go financing. Founded in 2010, it provides affordable access to smartphones, solar systems, and digital loans for underbanked consumers. M-Kopa has disbursed over $1 billion in credit, serving 4 million customers across Kenya, Uganda, Nigeria, and Ghana. Its 2024 revenue of $400 million and a $51 million loan from the US International Development Finance Corporation underscore its growth. Named in the Financial Times’ Fastest-Growing Companies list, M-Kopa is a fintech leader driving digital connectivity.

MyFawry, Egypt’s leading payment platform, is transforming how Egyptians access financial services. It offers bill payments, mobile top-ups, and digital wallets, serving millions through a vast agent network. Its inclusion in the 2025 Top Fintech Companies list reflects its role in Egypt’s growing fintech market, expected to grow 12% annually by 2025. Its seamless integration with merchants and focus on offline accessibility make it a standout.

PayMob, also from Egypt, is a rising star in the Middle East and North Africa (MENA) region. It provides payment gateways and POS solutions for businesses, enabling seamless digital transactions. PayMob’s innovative infrastructure supports SMEs, a critical segment in Egypt’s economy. Its 2025 listing highlights its rapid growth and regional impact.

Yoco, valued at $400–$500 million, empowers South African small businesses with affordable POS systems and online payment gateways. Founded in 2013, it has raised over $107 million and supports thousands of entrepreneurs. Yoco’s focus on digital payments earned it a spot on CNBC’s 2024 and 2025 Top Fintech Companies lists.

These companies exemplify innovation tailored to local needs, proving that Africa’s fintech revolution is just beginning, with Nigeria at its core and other nations rising fast. As McKinsey predicts, Africa’s financial services market could reach $230 billion by 2025, with fintechs driving much of this growth. These companies are not just regional players; they are global contenders, reshaping the financial landscape and driving economic inclusion across the continent.