FinTech Start-Ups Business -2-Consumer
Fintech has Become A Buzzword In Recent Years. It Largely Represents Startups Changing The way Money and Financial Services Are Handled, By Both Businesses and Corporates. Their Developments Can be as subtle as the payment Gateway used when Purchasing your next Blu-ray, to the App that helps pay for your Parking.
1 SnapScan (B2C)
One of the most well-known fintech companies in South Africa, SnapScan has simplified the way consumers pay for Items, using the Prevalent Mobile Phones. From Parking Guards to Food trucks, this startup’s 20 000 QR Payment Codes Are all over SA.
Since launching, the Company Has Partnered with online Retailer Superbalist for Ecommerce Payments, Mobile wallet functionality with Walletec, and Teamed up with PriceCheck for offline payments, among others.
In 2013, SnapScan snagged the MTN App of the Year Award along with a R50 000 prize.
Founded in 2013, BitPesa is a currency exchange which enables businesses and individuals to convert and send Kenyan Shillings to mobile wallets. It has partnered with the likes of M-Pesa, Orange, Airtel, and Yu. It expanded into Tanzania in 2015.
To date, the company has secured US$1-million in funding from Pantera Capital, as well as from the Bitcoin Opportunity Corp, Crypto Currency Partners, Future/Perfect Ventures and Stephens Investment Management. This investment brought its total equity investment up to US$1.7-million.
3 Mobicred (B2C)
This credit card-type facility is geared toward consumers who don’t want to use a credit card, and those looking for a centralised account for their purchases. Its service and transaction fees are comparable to standard credit card offerings from traditional banks.
Since launch, the system has managed to attract the likes of Incredible Connection, DigiCape, and payment gateway PayFast. It has also partnered with Nutickets to pay off concert ticket
4 TaxTim ( B2C )
The Goal of TaxTim is to simplify tax returns by making them easy to understand, in a simplified way, and eliminating the need for costly accountants. It also features the ability to file tax returns from its website directly into SARS. It has helped over 2-million people complete their tax returns.
Launching in 2011, TaxTim was part of Umbono, Google’s startup incubation project where it received US$25 000 in funding. In March this year, it received an unspecified amount of funding from JSE-listed financial services giant, MMI Holdings. It also partnered with PwC for its Namibian expansion last year.
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