Innovative Start-Ups in South Africa to Look Out For

When you think of South Africa, you probably think of its beautiful natural landscape and not its startup scene. Despite South Africa’s still-emerging economy, there are a few exciting businesses and startups to watch. With a population of 58.56 million, it has plenty of entrepreneurs starting businesses.

As per the World Economic Forum, South Africa’s startup business received $259 million in venture capital funding in the last year. However, the nation still has a long-drawn way to go before it can compete with the larger ecosystems, but it is on the right route.

Let us look at a few notable and developing South African startups

Adumo

Adumo is a Fintech startup situated in Branston, South Africa. Adumo is basically an independent payment platform or service provider and complete payment platform for all businesses. Despite being new, the company is poised to become a hot South African startup in 2021. In March 2021, IFC invested 225M ZAR. It has also acquired another financial startup, Wirecard Solutions South Africa.

Yoco

Yoco is one of South Africa’s most promising fintech startups, formed in 2013. The firm offers several financial goods and services to let over 100,000 small companies accept payments in a variety of ways. Beginning eight years ago, Yoco attracted considerable startup funding. The startup has secured $23 million from a group of fifteen investors, including VC firms and accelerators.

Jumo

Jumo is a Cape Town-based Fintech startup formed in 2015. The company connects entrepreneurs in emerging areas with high-quality financial product suppliers. They aim to help SA’s economy. Jumo has already received significant startup funding, confirming its usefulness. So far, the company has raised $156.7 million in VC.

RapidDeploy

RapidDeploy, a South African startup launched in 2013, has relocated to Austin, Texas. The startup supplies emergency dispatchers with a SaaS solution that saves lives. Easy to see why anything that can help EMS is highly prized. RapidDeploy has raised $41 million from seven investors in eight years. Samsung NEXT is an exciting back.

GetBucks

GetBucks is the epitome of a South African Fintech startup. The firm was started in 2010 and is now based in Gauteng, South Africa. The firm is distinguished for using technology to assist customers in identifying suitable financial solutions. GetBucks has raised millions of dollars over the last decade. Two investors have put up $25 million thus far.

Mobiz

Mobiz is a South African SaaS startup based in Cape Town. With its marketing cloud, companies can send out customized SMS messages to acquire new clients. This helps with marketing. Mobiz has garnered considerable startup money over the last seven years. Two persons invested $2 million in this deal. Their innovation makes them one of SA’s hottest startups.

Summing Up

Africa’s economies are booming, with South Africa leading the technological and innovative startups. The potential is being recognized by local and international investors who are eager to invest in South African software businesses. It is the perfect time for South African entrepreneurs to launch their technological startups.