Africa’s fintech scene is often described as full of promise but under pressure. Funding has bounced back to $53 billion in 2024, but that’s still far from the $152 billion peak in 2021.

Valuations are sobering, AI startups are grabbing headlines, and fintech has to prove itself on fundamentals.

Amid this backdrop, three companies with deep African roots made it to Forbes’ prestigious Fintech 50 list. Two were founded by Africans, one in Nigeria, another in Tanzania, and the third built much of its business around African consumers. Here’s who they are, what they do, and they deserve the recognition.

1. Esusu

Abbey Wemimo knows what it’s like to feel invisible to the financial system. Living in the U.S. without a credit history meant no loans, no options, no way to get ahead. They were forced to turn to a predatory lender, paying 400% interest, which inspired him to fix the broken financial system.

He turned that frustration into Esusu, a platform that reports your rent payments to credit bureaus, turning your monthly rent into a stepping stone for better financial access.

Today, Esusu touches 12 million renters in 5 million rental units, helping them improve credit scores by an average of 45 points. The company became a unicorn in 2022, valued at $1.2 billion.

It works by partnering with landlords and property managers who pay to report tenants’ rent.

Landlords get financially responsible tenants, renters build credit, and Esusu earns recurring revenue. It’s a clever loop that fixes a gap most people didn’t even know existed.

2. Nala

Sending money across borders in Africa can be a nightmare: high fees, long waits, and endless paperwork.Benjamin Fernandes watched this struggle unfold and built Nala, a platform that started as a mobile money aggregator and evolved into a full-stack payments and remittance system across 11 African markets.

In just 20 months, Nala grew transaction volumes 34 times and revenue 10 times year-over-year, already profitable in a notoriously tough business. The company has raised $50 million and is reportedly planning another $120 million raise in 2026.

Nala earns through transaction spreads and remittance fees, proving that even high-volume, low-margin businesses can thrive if you solve a real pain point for millions of users.

Nala isn’t just a money transfer tool; it’s a lifeline for families, freelancers, and small businesses across Africa who depend on fast, affordable, cross-border payments.

3. Tala

Accessing loans in many parts of Africa is still a challenge. Traditional banks often ignore people without formal credit histories. That’s where Tala steps in.

Using mobile data and alternative credit signals, Tala can offer instant microloans to underserved populations in Kenya and across three continents.

Tala has disbursed $7 billion in loans to 12 million customers, generating $300 million in annualized revenue, and growing 35% year-over-year.

Its model turns previously overlooked individuals into financially included customers, showing that providing credit where it seems impossible can be both socially impactful and profitable.

What These Companies Have in Common

Esusu, Nala, and Tala might tackle different problems: rent, remittances, microloans, but they share a single mindset: financial exclusion isn’t fate; it’s a problem to solve.

Esusu helps renters build credit, Nala makes money travel faster and cheaper, and Tala gives loans to people banks ignore. All three identified real, painful gaps in the market and turned them into scalable businesses.

They prove that understanding local realities is more than an advantage; it’s the foundation for global competitiveness.

Africa’s Fintech Moment

Even as mobile penetration soars, 57% of adults in sub-Saharan Africa remain unbanked. These three companies are showing how fintech can bridge that gap: accessible, tech-driven solutions that actually reach the people who need them. Their success signals that African founders can compete on the world stage, attracting investment while making a tangible difference in millions of lives.

In a year where AI and flashy tech grab headlines, Esusu, Nala, and Tala remind us that solving everyday problems for real people remains the ultimate formula for sustainable growth.