Three South African fintechs have been ranked among the world’s best — alongside the likes of Robin Hood, Tencent, Stripe, PayPal, and SoFi.
Bank Zero, Yoco, and 22seven ranked among the world’s 200 best fintech companies, alongside prominent global corporates like Robin Hood, Tencent, Stripe, PayPal, and SoFi.by CNBC and Statista, with categories ranging from neobanking to digital wealth management to alternate financing.
In the digital assets space, there is a growing focus on building technology to address some of the financial services industry’s biggest challenges, such as cross-border payments and real-time settlement. Many of these companies have struggled of late as their business model — spending lots to attain large numbers of customers and make money on card payments — has come under scrutiny with consumer spending slowing.Bank Zero is an exclusively digital mutual bank in South Africa offering banking services to individuals and businesses.
Yoco offers card machines, online payments, and business tools to small businesses to assist them with payments and growth. The buy now, pay later space has been under huge pressure amid fears of a drop in consumer spending — but it has equally become a lifeline for many as rising inflation forces people to search for flexible payment methods.South African fintech company 22seven is featured among the top 20 in the digital financial planning space.
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