LIST | 7 African Startups Make it to 2024 CB Insights List of 100 Most Promising Startups Worldwide

CB Insights, a global startup performance analytics firm, has unveiled its list of the 100 most promising fintech companies worldwide.

Seven African startups made the list with:

• South Africa (2)
• Egypt (2)
• Kenya(1)
• Tanzania (1)
• Nigeria (1)

Listed in order of their ranking, the featured African fintech startups are:

1.) MoniePoint (Nigeria)


Founded as TeamApt in 2015 by Tosin Eniolorunda and Felix Ike, MoniePoint is a comprehensive financial ecosystem supporting 10 million businesses and individuals with streamlined payments, banking, credit, and business management solutions.

As Nigeria’s largest merchant acquirer, MoniePoint facilitates the majority of the country’s point-of-sale (POS) transactions. Through its subsidiaries, it processes $17 billion monthly for customers while maintaining profitable operations.

To date, the startup has raised over $180 million since its launch in 2015.

According to the Financial Times, its latest funding round in October 2024 propelled MoniePoint to unicorn status – a privately held company valued at $1 billion or more.

2.) DoPay (Egypt)


DoPay was founded in 2014 by CEO Frans van Eerse and Roel Van Eersel as a fintech company specializing in cashless payroll solutions. The company provides a virtual banking platform and prepaid debit cards, allowing businesses to shift from cash to electronic payments for employee wages. DoPay’s services target businesses of all sizes, particularly in frontier markets.