TymeBank is a South African digital bank aimed at the lower income market. TymeBank does not have any physical bank branches and relies on an Android banking App.
South African fintechs Paymenow, TymeBank, Omnisient make FT’s Africa fastest-growing companies list
Paymenow ranked sixth in the FT Africa’s Fastest-Growing Companies 2025 ranking, with a 3756.1% absolute growth increase from 2020 to 2023. Paymenow's revenue surged from $0.14 million in 2020 to $4.86 million in 2023, and its employee count grew from 7 to 38.
Next Wave: Banks built the trust. Now they’re building the tech
Kenya's Absa Bank reported that over 90% of customer transactions were happening outside physical branches in 2024. GTBank in Nigeria grew its active digital user base by 38% year-on-year due to a revamped mobile app and chatbot assistant.
2024: A Mixed Year for African Startups as Funding Shifts Toward Sustainable Growth and Profitability
Funding for African startups surpassed $2 billion last year, indicating a return to pre-pandemic levels. A notable drop in mega-deals has led investors to prioritize sustainable business models.
Here are Africa’s biggest startups based on valuation
Funding into African startups exceeded $2 billion last year, returning to pre-pandemic levels. A decline in mega-deals has led investors to prioritize sustainable business models.
$45B fintech giant Revolut sets sights on South Africa
Revolut has confirmed its interest in entering South Africa's digital banking landscape. Tom Morrison was hired as Head of Strategy & Operations for South Africa three months ago.
