7 SA Fintech companies to watch

The South African Fintech scene is continuing to evolve and there are some great players coming through. Many of these businesses are starting to gain real traction and these are 7 businesses that might be worth watching:

Bridgement

Identified as one of the most innovative SA Fintech players, Bridgement offers young businesses a way to access between R10 000 and R5m by borrowing against existing invoices – improving SME cash-flow significantly. You can set up a dashboard at no cost and access a rolling facility as and when you need it. With Access to Finance still a major challenge for SMEs, Bridgement is proving a popular choice for entrepreneurs. 

SME Snapshot

Curious about how your financial metrics compare to your industry counterparts? Do you run an incubator / accelerator and want to track the financial performance of your portfolio companies in real-time? The SME Snapshot tool lets you do exactly that from as little as R100/month.

OUTvest

Robo-advisors are gaining traction as investors are trying to use technology to reduce costs and improve investment performance. The team from OUTvest have gone beyond goals-based savings by introducing sophisticated tax-savvy tools like a Fixed Endowment that you can setup on your mobile phone. The OUTvest platform also includes some fantastic calculators for things like holidays, weddings and saving for your child’s education. 

LulaLend

This SA business provides fast and flexible business funding to SMEs and sole traders that traditional lenders often can’t serve. Entrepreneurs who have a minimum of a 12-month trading history can approach LulaLend to access between R20 000 and R1.5m to grow their businesses.

 Livestock Wealth

Shares are complicated – cows are easy! You can invest in real live cows and track their progress on an app. When Livestock Wealth originally came to the market, there were questions about the business model. With Sustainable Investing and Agriculture becoming major investment themes both locally and abroad, there is a lot of interest in this business as it matures. 

QuickWill

Over 70% of South Africans die without a Will. If you have ever had to settle an Estate, you will know the emotional toll on the survivors of dying without a Will. The team from QuickWill allows you to set up a Will online in 4 easy steps. 

 QuickConsols

By accountants for accountants. QuickConsols provide an easy to use platform that caters to accountants preparing monthly consolidated management accounts who don’t have budget for expensive systems that take forever to set up and accountants who are simply fed up with using excel to consolidate their groups

If there are other SA Fintech businesses you think we should be watching, include them in the comments section below and we will try and provide follow-ups on their evolution / development.