In 2024, African fintech startups secured 35% of the total funds raised in the continent's tech ecosystem, with two new unicorns emerging: Moniepoint and Tyme Bank. As the sector continues to grow, it's essential to highlight the emerging fintech companies with potential for global reach. This article focuses on four key product categories of fintechs to watch in 2025, each featuring two or three startups to keep an eye on.

One of the categories is credit card business, where startups like Allawee and MONAPP are making waves. Allawee, launched in 2023, offers credit cards to Nigerians, allowing users to get credit equal to 30-90% of their net income, up to a maximum of ₦1,000,000 ($605). MONAPP, on the other hand, targets commercial transportation, providing easy access to credit for vehicle maintenance and emergency repairs.

Another category is contactless payments, where startups like Cash Africa, Karla, and TAP are positioning themselves for success. TAP, launched in 2017, supports payments for mobility services in Lagos through its NFC-enabled Cowry Cards, claiming 500,000 daily trip payments by 3.8 million users. Cash Africa builds an API that allows banks and fintechs to offer customers a tap-to-pay option within their banking apps, while Karla enables users to link their preferred payment method to the Karla app and make transactions swiftly and securely.

The payment infrastructure category features startups like Zone, Keyrails, and HUB2. Zone, a Nigerian payments infrastructure company, became the first licensed African payment infrastructure company powered by blockchain technology, processing transactions for over 15 major banks and fintech businesses. Keyrails provides payment rails for cross-border transactions among businesses and users in the US, Africa, and China, while HUB2 enables fintech companies to collect payments and payouts in markets they operate in through a unified payment infrastructure API.

Last but not least, the escrow services category features startups like Aje and Middleman. Middleman, launched in 2023, acts as a safe deposit to collect and hold payments from customers until they confirm satisfactory delivery, facilitating dispute resolution to ensure a fair outcome. Aje, launched in 2022, provides escrow services using a blockchain-secured escrow, catering to both local and cross-border transactions.

As the African fintech ecosystem continues to evolve, these startups are poised to make a significant impact in their respective categories. With innovative solutions and a focus on addressing specific pain points, they are well-positioned to drive growth and adoption in the continent's fintech sector.